Buying land without planning permission can save costs, but obtaining a mortgage for it poses significant challenges. Lenders are typically hesitant to finance such purchases and usually require proof of planning permission. Some self-build mortgage providers may consider outline planning permission, but full mortgage applications can only proceed once full planning permission is granted. When planning permission is secured, some lenders can offer high loan-to-value rates, up to 85%, depending on the borrower's profile. Understanding these complexities is crucial for anyone considering purchasing land without planning consent.
"Mortgage providers will usually require proof of planning permission before considering your application. However, in some cases... they will assess applications with outline planning permission."
"Buying land without planning permission can be very difficult... Most lenders are cautious about lending in these circumstances."
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