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Advice re: what we need to ask for??
shamac
Posts: 415 Forumite
We want to sell our house and self -build (which we have done in our current house) we have about £200k equity in our house. We need to free this equity to allow us to buy land. What kind of mortgage/loan would be available to us where we could buy the land before the sale on our house is complete? Once the house is sold we would use our equity to build and have no or a very small mortgage only. We prefer to use companies with an ethical/green background our current lender is The Ecology BS. Thanks
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Comments
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Well forget the high street then, they dont do ethical! LOL
You need a mortgage that has no penalties, then you can remortgage free the money then pay it off when you move. You can raise money on the new build at the end of the first stage, not land purchase.
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Indeed re-mortgage - assuming your income is sufficient to increase the current mortgage and support any exisiting debts.
Then for the self build part - you can look at Accors, Amber, Intelligent Finance, TMB, Skipton and LloydsTSBI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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