Mortgage/Loan for Land Purchase

MadFD

Hi All
I am in process of buying land in order to do a self-build house which will become my main residence.
The intention was to sell my current house and take a self build mortgage to use to build the new house - relatively straightforward.
However the sale of my house fell through in December just prior to exchange so I thought it would be fairly easy to remortgage my existing home to allow me to buy the land. I currently only have a very small mortgage and even with the additional lend of around £100k it would only take me to around 45% LTV.
Problem is all of the banks and building societies i speak to will not do the loan as it is classed as short term lending as when i sell my current house I will pay off the debt. I am now concerned that i will lose the land.
I could presumably go to a short term lender but have no experience of them, so dont know who would do it and am wary of dodgy firms, and i would rather not pay huge fees/interest. My credit rating is about as good as it gets
Any advice on my options, and recommendations for lenders appreciated. Thanks

Mattygroves2

Have you tried for an additional advance from your current lender on their SVR rather than a fix or tracker ? That way there won't be any exit penalties when you come to sell and settle the mortgage.

amnblog

Stop ' speaking' to banks and building societies and speak to a mortgage broker.

nubbins

I phoned these one and they were quite helpful.

http://www.buildstore.co.uk

MadFD

Thanks for your comments. I will deal with each.

Current lender says no as they says it would be short term debt. So what I said, when i sell my house you wont be getting anything so you may as well maximise what you can now.

I have been trying to find reputable mortgage broker; using vouchedfor. Some possibilities; phoned one yesterday and waiting for them to come back to me. Didn't sound hopeful. Will try others.

Buildstore - been talking to them re my project since day 1; however they have been very unresponsive and dont return calls and emails. Probably just the person I have been dealing with but they dont do themselves any favours. Still trying with them.

I know that my situation cannot be an unusual one; there must be lots of others in similar situation but i just can't crack it. I thought it would be easy.

Staying positive.