Myself and Wife looking to build our own house on land we already own. Slight problem in that I need less than 1/3 of acre from neighbour for entrance. He is looking for 200k for 1/3 of acre (agricultural value about 7k). Do not intend to give him 200k but will probably have to give him close to 100k. Had budgeted 40k. Can I get mortgage for say 120k for site entrance and add it onto build cost of house or do I have to get personal loan for 120k? 15 years ago people would do you a turn now everybody out to screw you!!
You can get a mortgage for up to 80% of the value of what is there - i.e. value of site plus building value. So if your site, plus the piece you are buying, have a combined value of, say, €100k in total, then the bank will release up to €80k on the strength of the site alone.
Are you sure you want to spend even the €100k on a third of an acre? If neighbour is asking €200k, he clearly doesn't like you much. Think carefully about the long term.