Building a new PPR but old PPr yet to be sold

[banshee]

Hi all,

Any advice re options available to me to finance this new build while I wait to sell my present PPR ? I have bought a site from savings and have enough to begin foundation works but need capital to complete the build. For unavoidable reasons I won't be able to sell my PPR untill August at earliest. I need to start building asap, planning permitting, but am very confident of obtaining same. Also, Pre planning enquiries with local Co.Co. have given me a no objection in principle response, subject to various issues.
I am on a very good tracker. I have received professional appraisal of my PPR and am told it will sell very quickly at a price that would leave me with a great deal of equity. I can retain my tracker at +1% but it seems that I have to sell my PPR and clear loan before I can drawn down funds. My present Bank has given me a preliminary negative response to my enquiry re same, told in effect make your proposal and we will have look but unlikely we can do anything for you. I believe banks are no longer offering bridging loans ?( That would have been perfect for me I think).
I need to start building soon and really can't wait to sell my house and then begin building.

Any persons in similar situation ? Any ideas how best to proceed other than the blindingly obvious one of wait and sell first. Have I options ?

Many thanks for any advice , tips etc.

 

[RedOnion]

Not self builds, but the question comes up frequently for movers, which might give you ideas. Similar principles apply.

One recent example:

Bridging loan

Do banks do bridging loans at all these days? I'm not even sure I'm using the correct term here. I'd like to sell my current property (fully owned) and buy a new, more expensive one. I most likely have the difference in cash but I just can't face renting temporarily and moving twice. I'm very...

www.askaboutmoney.com

I'd imagine if you don't have planning permission yet, and have enough to get foundations in, that's going to give you plenty of time until you need finance.