Can I get a Loan for LandMay I get a loan for land?
Default mortgages cannot provide mortgages on land with building permits, but by looking for experts you should be able to find quickly the mortgages you need for your land purchases. For more information on purchasing building permit land using a mortgaged property, please contact our dedicated teams of experts today on 0117 332 3389.
Where is the distinction between a full building permit and a framework permit? Buying a property that already has a full building permit means that the municipality already has detail drawings for the land use. In the event that the property you have selected does not have a full building permit, you may still be able to obtain a mortgages loan if the property has a temporary building permit.
Whatever kind of permit you have, it will run out after three years and you will have to apply for another permit after that period. It is therefore important to consider exactly how long you will need to start your planned construction work on the land you wish to purchase.
Is it possible to obtain a mortage for the acquisition of land with a building permit and financing my own construction work? These types of financial processes can be advantageous for both the borrower and the creditor - for the borrower this means that you can get the funds you need in advance to buy the land you need. As for the mortgages providers, the tiered-cash flow approval of this kind of mortgaging provides a feeling of safety and can mean that they are able to provide a greater total amount of mortgages.