Self build mortgage

10 Posts

Hi,
I am looking into options for buying land partly to build a house on and partly to rent out the land as a dog walking field - does this complicate the process rather than just going down a purely residential development because there is a commercial aspect? Also, I'm a bit confused with when one starts actually paying any mortgage payments - is it once the build is complete or do you actually start paying monthly payments as soon as they have given you the money for stage 1 costs?
Thanks,
Kim
I am looking into options for buying land partly to build a house on and partly to rent out the land as a dog walking field - does this complicate the process rather than just going down a purely residential development because there is a commercial aspect? Also, I'm a bit confused with when one starts actually paying any mortgage payments - is it once the build is complete or do you actually start paying monthly payments as soon as they have given you the money for stage 1 costs?
Thanks,
Kim
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Are you getting planning for both things at once?
Not sure if you can pay outright for the land like i did back in 1970 and use that as the deposit.
I had a house built on said land and the builder was paid in stage payments, I never had to pay until it was complete.
The next piece of land I bought I built my own bungalow and got stage payments, again didn't have to pay the mortgage until it was complete
Obviously things could have changed since then.