Self Build Finance - Help Required

[anonymous-user]

I've posted this in Homes, Gardens and DIY but thought it may also get responses in here. Mods - if you'd prefer it in one location only please delete one.
__________________________________________________________________________________________________________________________________________________

I have just put my property on the market with the aim of moving into rented while I buy a plot to build my own home. As often happens with these things timing can sometimes catch you out - a developer friend of mine has told me of a plot that is currently available and I am seeing the owner tomorrow.

The plot should be available for around £440K including stamp duty and the build cost around £300K. My house sale plus savings will easily cover this but in the short term, until I sell my house, I only have around £250K in savings meaning a shortfall of around £190K for the plot purchase.

So, can anyone recommend a lender who deals with land purchases as I may need to go down this route.

Many thanks
Gary

[cs174]

These people may be able to help:

http://www.buildstore.co.uk/finance/selfbuildmortg...

[anonymous-user]

cs174 said:

These people may be able to help:

http://www.buildstore.co.uk/finance/selfbuildmortg...

Should have said that's the one source I am aware of, but thanks anyway. Will be talking to them on Monday.

[Kudos]

Check out money supermarket.com as well, you might get some pointers there too

[Sarnie]

I'm a Mortgage Broker, and can help give a second opinion once you have spoken to Buildstore

[anonymous-user]

Sarnie said:

I'm a Mortgage Broker, and can help give a second opinion once you have spoken to Buildstore

Thanks Liam. YHM.

[Derek Chevalier]

garyhun said:

I've posted this in Homes, Gardens and DIY but thought it may also get responses in here. Mods - if you'd prefer it in one location only please delete one.
__________________________________________________________________________________________________________________________________________________

I have just put my property on the market with the aim of moving into rented while I buy a plot to build my own home. As often happens with these things timing can sometimes catch you out - a developer friend of mine has told me of a plot that is currently available and I am seeing the owner tomorrow.

The plot should be available for around £440K including stamp duty and the build cost around £300K. My house sale plus savings will easily cover this but in the short term, until I sell my house, I only have around £250K in savings meaning a shortfall of around £190K for the plot purchase.

So, can anyone recommend a lender who deals with land purchases as I may need to go down this route.

Many thanks
Gary

Out of interest, where in the country are you building?

[anonymous-user]

Derek Chevalier said:

Out of interest, where in the country are you building?

Dorset. Why do you ask?

[aka_kerrly]

The Scottish Building Society, Leeds Building Society, Skipton Building society and depending on the nature of the property Ecology building society to are also worth considering.

[anonymous-user]

aka_kerrly said:

The Scottish Building Society, Leeds Building Society, Skipton Building society and depending on the nature of the property Ecology building society to are also worth considering.

Thanks. Looking at Clydesdale

[Derek Chevalier]

garyhun said:

Derek Chevalier said:

Out of interest, where in the country are you building?

Dorset. Why do you ask?

Was wondering if it was South East, as not too many plots round here. Do you know if any developers bid for yours?

[anonymous-user]

Derek Chevalier said:

garyhun said:

Derek Chevalier said:

Out of interest, where in the country are you building?

Dorset. Why do you ask?

Was wondering if it was South East, as not too many plots round here. Do you know if any developers bid for yours?

It's a good point and an interesting question. I'll answer this once I've secured the plot as I don't want to jeopardise the purchase.

[Derek Chevalier]

garyhun said:

Derek Chevalier said:

garyhun said:

Derek Chevalier said:

Out of interest, where in the country are you building?

Dorset. Why do you ask?

Was wondering if it was South East, as not too many plots round here. Do you know if any developers bid for yours?

It's a good point and an interesting question. I'll answer this once I've secured the plot as I don't want to jeopardise the purchase.

Best of luck