Site only Purchase

[LouthMan]

Hi there

I have plans drawen up for a lovely house in Louth and Coucil seem fine with it, if i get planning, Is there any banks out there who will give me the money for site only purchase and build down the road.

 

[exbroker]

Hi, for most lenders you would need to plan to borrow for site plus construction costs from the beginning. The bank would look for confirmation of your planning permission and the maximum loan for site purchase would be 60% - 80% depending on whether you have full or outline planning permission. A letter is also required from your architect confirming intention to build (usually within the next 6 months).