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Buying land

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Buying land

Postby gun nut » Wed Oct 24, 2012 10:30 am

I am looking to purchase a few acres of pasture land for the missus to put her horses on as livery is getting expensive. I also fancy the idea of my own few acres to mess about with and maybe shoot over.
I have a reasonable amount to put down as deposit but, as I understand it, purchasing land without a property is not as simple as approaching your average highstreet bank for a mortgage.
Anyone have any experience or advice on purchasing land?
The other option I have is to remortgage the house and buy the land with the cash but I would rather keep the two separate.
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Re: Buying land

Postby Stewartyg » Wed Oct 24, 2012 11:06 am

Hey your right it's not as simple but if you have a reasonable amount to put down you could try for a loan. They will probably be looking your house as a guarantee but wouldn't worry to much about that as land doesn't depreciate and you should always get your money back if needs to be sold.

It all depends on how much your looking for but in my experience as long has the bank has something they can sell which is worth more than you owe them their happy.
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Re: Buying land

Postby Sidebyside » Wed Oct 24, 2012 8:43 pm

gun nut wrote:I am looking to purchase a few acres of pasture land for the missus to put her horses on as livery is getting expensive. I also fancy the idea of my own few acres to mess about with and maybe shoot over.
I have a reasonable amount to put down as deposit but, as I understand it, purchasing land without a property is not as simple as approaching your average highstreet bank for a mortgage.
Anyone have any experience or advice on purchasing land?
The other option I have is to remortgage the house and buy the land with the cash but I would rather keep the two separate.

You haven't done another bank job have you ? :shock: ;) :grin: :grin: :grin: :grin: :grin: :grin: :grin:
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Re: Buying land

Postby nickhornet » Wed Oct 24, 2012 10:29 pm

buying land is easy... paying for it isnt ;)

If you use your mortgage they will tie the land to the property...... no ifs or buts...

I have purchased a few acres over the years and it has been quite simple tbh... just costly :cry:
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Re: Buying land

Postby gun nut » Thu Oct 25, 2012 8:39 am

Sidebyside wrote:
gun nut wrote:I am looking to purchase a few acres of pasture land for the missus to put her horses on as livery is getting expensive. I also fancy the idea of my own few acres to mess about with and maybe shoot over.
I have a reasonable amount to put down as deposit but, as I understand it, purchasing land without a property is not as simple as approaching your average highstreet bank for a mortgage.
Anyone have any experience or advice on purchasing land?
The other option I have is to remortgage the house and buy the land with the cash but I would rather keep the two separate.

You haven't done another bank job have you ? :shock: ;) :grin: :grin: :grin: :grin: :grin: :grin: :grin:

Not yet! ;) ;) :grin: :roll:
A golf course is the willful and deliberate misuse of a perfectly good rifle range. - Paul Kirchner
A few acorns up the arse'd do 'em the world of good. It might even make them walk upright for a change. - Linegeist
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Re: Buying land

Postby gun nut » Thu Oct 25, 2012 8:41 am

Thanks for the advice guys! That is what I thought. It looks like it is going to involve getting the house remortgaged then! :thdn:
It seems strange that you can't just get a standard mortgage for land purchase if you are putting down a 30% deposit or more as it is very unlikely that the land will drop in price by that much!
A golf course is the willful and deliberate misuse of a perfectly good rifle range. - Paul Kirchner
A few acorns up the arse'd do 'em the world of good. It might even make them walk upright for a change. - Linegeist
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Re: Buying land

Postby Buffy Vampire Slayer » Thu Oct 25, 2012 8:49 am

why not buy a house with some land therefore killing two birds with one Stone :idea: :idea:
then the payments would be on the property and you would in effect have got the land for free :hmm: ;) :grin:
think about it,it's true ;) :razz:
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Re: Buying land

Postby Born Again » Fri Nov 16, 2012 2:00 pm

Try to buy at auction or direct from the owner - agents have a huge markup. It's worth finding a bit of unused land, find the owner via the Land Registry or ask around, and make them an offer. I'm in the process of doing this, the old farmer who owns it is in a care home.
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Re: Buying land

Postby gun nut » Mon Nov 19, 2012 9:42 am

Have you moved mate?
Yeah I have been on the look out but there seems to be very little land around for 'sensible' prices!
I will have a look to see if there are any auctions coming up!
A golf course is the willful and deliberate misuse of a perfectly good rifle range. - Paul Kirchner
A few acorns up the arse'd do 'em the world of good. It might even make them walk upright for a change. - Linegeist
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Re: Buying land

Postby Stewartyg » Mon Nov 19, 2012 10:07 am

gun nut wrote:Have you moved mate?
Yeah I have been on the look out but there seems to be very little land around for 'sensible' prices!
I will have a look to see if there are any auctions coming up!


Be glad you don't live in n. Ireland prices at the min seam to be between 12 & 15k
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Re: Buying land

Postby benchrest » Tue Nov 20, 2012 9:21 pm

Get some cash together, your gonna need it for maintenance too .. it will be £6-12 k an acre depending where, & who wants , i seen some £20+ an acre.. do your home work too, if it need drainage expect machine hire & a few days in there, walls fences are cheep, but you may need a few 100's of yards . check its consent & use ! agricultural is for farming, equestrian for horses..expect to pay double for equestrian :lol:
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Re: Buying land

Postby Pilgrimmick » Wed Apr 24, 2013 6:25 pm

Whenever you can afford it, buy land, they've stopped making it!
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Re: Buying land

Postby Coldfinger » Wed Apr 24, 2013 11:20 pm

Pilgrimmick wrote:Whenever you can afford it, buy land, they've stopped making it!


Good heavens man, do you know nothing about divergent plate boundaries????????????
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Re: Buying land

Postby FXL5 » Wed Apr 24, 2013 11:20 pm

Coldfinger wrote:
Pilgrimmick wrote:Whenever you can afford it, buy land, they've stopped making it!


Good heavens man, do you know nothing about divergent plate boundaries????????????


Evened out by subduction zones. The Earth isn't getting bigger.
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Re: Buying land

Postby Coldfinger » Wed Apr 24, 2013 11:22 pm

Only an idiot would buy in a subduction zone :Facepalm:
"Bit of a Meldrew you, int'cha?" Linegeist

With my luck. if there was an award for most pessimistic man in the UK Id never get nominated....
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