Mortgage against value of Land

[jfk]

I own some land and I was wondering if it is possible for me to take out a mortgage against the value of the land?
Any help would be appreciated.

 

[Munsterdude]

It really depends on what you plan to do with the mortgage? Do you intend to build on it, do you want to have a wonderful holiday in Las Vagas?

 

[jfk]

It really depends on what you plan to do with the mortgage? Do you intend to build on it, do you want to have a wonderful holiday in Las Vagas?

Just need enough to re-organise my finances and pay off a (sizeable) debt. I don't want to sell the land but that would be a last resort.

 

[Munsterdude]

I think you might have some difficult if you intend to go the mortgage route. Maybe your local bank manager might give you a loan secured on the land?

 

[cushtie]

Is it Land ie a few acres or a potential site.

I think you have to have full planning permission on a site before the bank would look at giving you a mortgage on it.

Myself and Mrs Cushtie bought a site with Outline Planning Permission using credit union loan and made some enquiries in this regard and were told to get Full Planning Permission first and then come back to them, still waiting on FPP but that is a different story