Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

Demolishing a Mortgaged Property

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • fred333
    replied
    I did not know that was fraud. That does make sense though.

    Leave a comment:


  • MarkD
    replied
    When you want to demolish the existing property on a plot of land you are in fact lowering the value of the site albeit temporarily and to demolish without a lenders consent is to commit fraud or certainly some kind of similar offence. Mortgages are definitely not the right product but there are lenders who can accomodate this out there!

    Leave a comment:


  • bonetti consultants
    replied
    Financing is available for this type of development without doing anything illegal. I would strongly recommend doing all developments the right way, is it worth the sleepless nights???

    I have a development finance company that would be able to assist.

    Feel free to email

    Leave a comment:


  • brian
    replied
    I think any attempt to try and draw the wool over the bank's eyes is a bad idea from the start. I certainly wouldn't advise trying that.

    Leave a comment:


  • tonyv
    started a topic Demolishing a Mortgaged Property

    Demolishing a Mortgaged Property

    I'd like to buy a house on a large plot of land, and demolish it and start again.

    Can anybody advise what the implications are of doing this if I got a normal mortgage, i.e. not a self-build mortgage?

    Is there any way the bank would discover that I'd done this?
Working...
X