Mortgage to Demolish

We want to buy an adjoining property to ours with the intention of demolishing it to enhance our current garden and build a garage. The existing house that is for sale is in poor condition and would not have a very high value. Can anyone advise if this intention would qualify for a mortgage? If we did obtain a mortgage is there an obligation on us to inform the lender what our intention is or indeed if we begin demolition? It would be a small mortgage (C. €60K) and the intention would be to pay back over a short period of 10-15 years.

Any advice on the type of mortgage/loan we should be looking for?

Have you much equity in your current home?

I think that they would probably give you a mortgage on it to fund the acquisition and demolition.

Brendan

If you go for an ordinary mortgage as though you were buying a house to live in or rent then it would have to be in habitable condition or you would have produce proposals to make it that way. If you only intend demolishing then a top up on your own mortgage would make more sense if you have equity and/or this increases the value.