Fair price for land?

The village if Whittington where I used to live in Worcestershire recently had 2.7 acres sell for £42,000 if that helps. It had water and was well fenced but no buildings however was right next to a street of houses... They all clubbed together to buy it to stop developers.
 
I am guessing but having looked at a couple of examples of land for sale locally that my 5 acres would be around £150-£160,000.
I'm in South Bedfordshire and the land is good grazing, well fenced, 6 wooden stables, water & electric, smallish haybarn and small coffee room (most important!).
The day we bought it I remember like it was yesterday although it was 1996, 18 years ago! It was a case of seeing a small advert in a local paper, phoning and meeting them straight away and within an hour having agreed the sale. Meanwhile the vendor had at least half a dozen people calling her about it.
There was quite a lot of tidying up but thats been done over the years. Paid around £30k for it then. It is my pension plan though so definately worth the hardship at the time.
 
Currently looking for house with land. Some have additional land for purchase and all seem to be around 10k per acre. We are staffordshire/ Shropshire area. Could you have a professional valuer to give you a valuation? Having said that one acre down the road from us sold for 16k because the people really wanted it. It has no water or electric and fencing was not too good.
I would get a few quotes for resurfacing the menage as prices vary depending on your choice. It sounds a good opportunity and at least you will have a return when you eventually sell. Good luck with it.
 
Speak to a local land agent. They can give you some recent prices for land that changed hands - but remember they represents land owners so it is in their interest to over estimate rather than underestimate, but it should give you and idea.
 
I remortgaged my house to get mine, using some of the equity I had built up. You could, at that time, extend your mortgage to buy land that was within a certain distance from your house, which would explain why neighbour interest adds value to land. When they originally said my land was too far distant, and I said I would go to the bank, they did an about turn and came up with the extended loan on my house - you can get away with a little subtle pressure, I think they can use some discretion to find a way if you have been a good long standing borrower. That was with Britannia, not sure now. Probably worth investing in a meeting with your current lender, or ask at your bank about secured loans - there is no better security than land.
 
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I had to buy my land 'blind ' as it was sealed bids which made the process so much harder.

I did get acre valuations from land agents who just quoted 5 - 7k an acre so for the 7 acre site 35 - 49k. No facilities on it at all.

Everyone else said I had to disregard this and offer what it meant to me as land is a rare commodity. The selling agents said there was lots of interest in the plot and wouldn't give anything else away other than to offer an odd sum and not a rounded sum ie if you want to pay 60k go to 60,103 so you beat someone else who may also offer 60k.

In the end I offered. 67405 and won the bid not because I was the highest bidder but because I was paying cash so the deal went straight through and the vendor apparently didn't want to wait for mortgages to go through.

I am in Hants.

Should say this was all 8yrs ago and now have a large yard on the plot.
 
Not sure about mortgages, but I had a personal bank loan for mine, repaid it over 8 years, it worked out about the same as I was paying for DIY livery for two stables, though has cost a bit more since as put a menage in and recently a hay barn, but paid for them from savings. The bank just treated it like a car loan, didn't want security against the land, but that was before the credit crunch, so poss v different now?
 
The only land mortgages I've found are 50% loan to value ones.

I'm adding to my existing mortgage to buy land, using equity tied up in the house.
 
Some land for sale in East Yorks, 3 towable new stables on concrete pad, 1 12 x 12 field shelter fairly new, set on 2.55 acres all fenced, its just gone up with another agent as not sold by first one its £34k. Its down an unmade road that turns into a bridleway so good for riding just very remote to get to it but its been up for sale for a year so far.
 
OMG Ombersley - millionaire's row. The suggestion to ring Dan Lovett is a very good one - unless they are the selling agent! It is nice light land.
 
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