Can you get a mortgage to buy a yard?

I looked into this a while ago andif I remeber correctly, you would either need A) a commercial mortgage which invloves business plans and budgets etc, useless if you want it for private use or B) a specialist land mortgage, however, these usually have astronimcal interest rates and require a min 50% deposit so are very expensive. The only way we could do it was to take a mortgage out on my husbands parents house and then use the money from that to buy the land. very complictaed stuff!!!
 
Yep complicated business jules. If it were that simple we'd all be buying yards and paying a mortgage instead of livery. Trouble is there'd be thousands of little yards across the country spoling the look of the countryside and that's just what the powers that be don't want.

Really pees me off this does, it's as if the peeps that run the banks/country and make the rules are like some exclusive club they don't want others to join.

If on the other hand you want to stick a housing estate in some green belt and fill it with chav's then thats absolutely fine!
 
Do you already have a mortgage? If so, you can usually get an extension on your mortgage to a certain value depending on the current market value of your home.
 
Hi a few years ago I bought a yard and took out a mortgage with my bank, although I did it as a business and the mortgage was only over 10 years, it worked out really well. x
 
Yes it is possible, find yourself a really good mortgage specialist. I looked in to it, and managed to find a deal which was only about 1% higher than current mortgage rates and which needed a 10% deposit

I didnt get it in the end, however I had tried the year before and told it wasnt possible, but was great to see that if you keep trying you can do it!
 
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