Best way to buy land

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custard

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For years now have been looking to buy a small plot 3-4 acres with the equity from my old house but the price is silly round here.

In theory if I wanted to stump up half the cash needed what would be the best way to borrow the rest?

Could we re mortgage the house?

Any ideas appreciated as feeling a bit fed up with it all, would be quite happy to rent a field at the mo, do my own thing and shove a field shelter on it!
 
A friend of mine recently bought land, the way she did it and worked out cheaper with interest rates was to take out a loan, she borrowed about £35,000
 
I'm not sure that you are really allowed to remortgage in order to buy land - you'd have to look into that.

Most likely the easiest way would be to take a loan. I'm sure someone (at least one member) works for a bank so they should be able to give you some sound advice.
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A remortage would be good, but I would be very wary with interest rates and house prices at the moment.

I have owned my own land, until a recent marriage break up and have managed to rent a wonderful 5 acre field with three brand new stables for £40 a week from a local farmer. For this he removes the muck heap, trims the hedges.

I have found this to be the cheaper option, as the work envolved, fencing, spraying etc can set you back about £1k a year to keep a field in tip top condition. I would buy grass seed for any poached patches etc and then rag wort spray etc, it all adds up. For my £40 the farmer has all this hastle. Sorry to put a damp squid on it, but I have done both and far prefer my rented field.

I would speak to your local councils as they often sell off small parcels of land and those in the know seem to pick it up quite cheaply. Also long term lease is a good option and keeps your pennies in the bank.

Good luck what ever you decide
 
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Also long term lease is a good option and keeps your pennies in the bank.

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I'd be quite happy with this TBH and shell out for a mobile shelter, water butts and battery powered lighting etc. However it seems impossible to do round here. Spoke to wark's council a while back and they were quite unhelpful, seemed really anti horse, farmers also seem reluctant.
I know people like Severn Trent and other big bod's have pockets of land all over the place, just haven't got a clue where/who to ask!
 
Many mortgage lenders will allow you to borrow against your house and add it to your mortage, this can be an expensive way to do it though. I would recommend you take out an 'any purpose' loan.
One advantage of buying your own land is that it will almost always go up in value, ours has more than doubled in 6 years.
 
Your best option is to find a good traditional 'Land Agent' and instruct him to find you a local block of land. He will sniff it out for you as he will know all the local landowners.

Agricultural land is about £4,000 per acres at the moment and you would need to apply for planning permission for change of use from agricultural to equestrian.

Agricultural land follows house prices.

You could release some of the capital from your house to buy the land thus getting the cheapest way of loaning the money.
 
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