Mortgage for extra strip of land for garden shed

[unstacked]

Is it possible to obtain a mortgage for the following :

First we have to buy a strip of land belonging to our neighbour in order to build a shed, which we have plans drawn up for and will have to put in for planning also, then the shed has to be built etc.

There will obviously be a deed of transfer etc for the land in question - so we were just wondering if it were possible to get a small mortgage to do all the above and finish off a few other house related jobs in the deal

 

[PGD1]

yes.

the reality is that you will either topup your current mortgage (and have two accounts) or remortgage and still have the 1 account.

 

[unstacked]

Thats fine but in this climate I dont think there is much scope for pushing valuations up in order to get a top up or re - mortgage ( our mortgage is only 2 years old ) I dont think there is any room to do this ?

 

[ubiquitous]

Thats fine but in this climate I dont think there is much scope for pushing valuations up in order to get a top up or re - mortgage ( our mortgage is only 2 years old ) I dont think there is any room to do this ?

Surely the addition of an extra strip of land to your site will push up the value of the entire property? (If you are already in negative equity, this may not matter)

 

[unstacked]

True, I never thought of it that way. Thanks