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Buying land.. where to start?

8 replies

Cariadxx · 01/04/2024 17:41

A piece of land has come up for sale near where I keep my horse, and were looking into buying it. Does anyone know how the process works or can recommend a mortgage company to contact? We are open to the idea of running it as a DIY livery and doing a business plan etc as well if needed.

OP posts:
Wallpaperontheceilings · 01/04/2024 17:57

You do know that you can’t get a mortgage for land? When we bought our land, we took out a mortgage on our house, the loan to house value was very low, so the Mortgage company just did a drive-by valuation, so it was very easy.

DistinguishedSocialCommentator · 01/04/2024 17:59

Re your "ideas" great but check with planning beforehand and check access to land and what can and can't be done.
Also check past history of this land, any planning apps, where they refused, why etc

twistyizzy · 01/04/2024 18:02

Look into the costs of running a livery yard. I don't know anyone who even breaks even on a yard unless they offer Full. DIY is most at risk of getting dodgy owners/none payers etc plus people on your yard at all hours (said as a DIY livery myself 😁).

Cariadxx · 01/04/2024 18:06

Wallpaperontheceilings · 01/04/2024 17:57

You do know that you can’t get a mortgage for land? When we bought our land, we took out a mortgage on our house, the loan to house value was very low, so the Mortgage company just did a drive-by valuation, so it was very easy.

Actually you can get an agricultural mortgage. But interested to see what others have done... was yours a second charge mortgage?

OP posts:
Cariadxx · 01/04/2024 18:07

DistinguishedSocialCommentator · 01/04/2024 17:59

Re your "ideas" great but check with planning beforehand and check access to land and what can and can't be done.
Also check past history of this land, any planning apps, where they refused, why etc

Ah yes don't worry we will be doing all this but need to see how feasible the purchase is first

OP posts:
Cariadxx · 01/04/2024 18:08

twistyizzy · 01/04/2024 18:02

Look into the costs of running a livery yard. I don't know anyone who even breaks even on a yard unless they offer Full. DIY is most at risk of getting dodgy owners/none payers etc plus people on your yard at all hours (said as a DIY livery myself 😁).

Have run one before thanks. Would initially be offering grass livery only until stables etc built

OP posts:
DistinguishedSocialCommentator · 01/04/2024 18:39

Cariadxx · 01/04/2024 18:07

Ah yes don't worry we will be doing all this but need to see how feasible the purchase is first

Ok, not to worry.
Good luck

Seeline · 02/04/2024 10:46

Cariadxx · 01/04/2024 18:06

Actually you can get an agricultural mortgage. But interested to see what others have done... was yours a second charge mortgage?

Livery/equestrian uses aren't agriculture though

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