Can i get a mortgage for a plot of land?

Question

I already am a home owner and am looking to buy a plot of land to build my dream home.

I have around £13,000 in savings and have just found a plot for £45,000.

Question is: Can you get a mortgage just to buy the plot of land? Ie 45k - 13k i need 32k loan.

The plan is to buy land just now and sit on it for a while, then the idea is to sell my house, then the money from the house goes into the buld, this being around £140k. When im ready maybe in around a years time.

Is there any loan companies or building societys that offer loans for this?
Or a loan company that will lend more than 25K on a personal loan?

Uk people to answer only please.

Thanks for help, any links or leads much appreciated.

Answer 1

Most lenders will offer mortgages for land. You are proposing about 28% down. That should be enough of a down payment. Without more information about your income and other debts, I can't say if YOU con get the loan.

Answer 2

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