equity release from site

[satumashirt]

hi,i have a site that has been valued at 240,000 euro and need to release 130,000 euro to build a house on it.i have been told that the house built on the site would be worth over 750,000 euro from a valuer.
what would the best thing here to do.
i have 10,000 deposit.

i havent approached a lender yet,so any advice would be great

 

[Guest107]

well a €750k house on a €250k site allows you to borrow €500k nominally.

as the bank needs some security you should look at borrowing no more than 80% LTV .

80% of €750k is €600k
less €250k site
borrow no more than €350k to build . Thats €100 a square foot on a 3500 square foot house may I add.

The banks should be happy with those figures