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Mortgages for Land Purchase

Best Mortgage Rates

I Want to Buy Land I Want to Remortgage

Mortgages for Land Purchase

    • 4.07% Initial
    • 5 year fixed
    • 6.6% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.10% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.14% Initial
    • 5 year fixed
    • 6.3% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.17% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.17% Initial
    • 2 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.19% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback Max £1,250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.19% Initial
    • 2 year fixed
    • 8% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.20% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Mortgages for Land Purchase

Mortgages for land purchases: Compare your options

You will likely need a specialist mortgage deal if you want to finance the purchase of land rather than an existing house.

Depending on what you intend to do with the land, there are different types of mortgages for land purchase. When purchasing land to build a house, you will need a different type of mortgage than when purchasing farmland.

Land purchase mortgages for self-builders

Self-building offers many benefits, such as choosing the perfect location, designing the home of your dreams, and adding unique features such as environmentally friendly design elements. In contrast, getting a self-build mortgage for land purchase may require a bit more planning than a simple residential mortgage.

Self-build mortgage borrowers are likely to use the money lent to them to construct a property from scratch, which requires mortgage providers to lend money on a property that doesn't exist yet. It's understandable that some lenders may be reluctant to do this.

You may find, however, that obtaining a self-build mortgage is not as difficult as it seems if you approach the right mortgage lender.

Land purchase mortgages - other purposes

If you want to purchase a plot of land for farming, for example, you will probably need to approach a specialist lender.

A number of mortgage lenders offer specific land purchase packages tailored to the needs of farmers and landowners, and will be able to help you obtain the financing you need.

 

To investigate your finance options for buying or refinancing land call our broker team or fill in our call back form -  speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464

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