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Site costs

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  • 06-06-2020 8:48pm
    #1
    Baoithin66
    Registered Users Posts: 185 ✭✭


    Hi I am hoping to purchase a site of my uncle. The site is work around €70-75k and he is asking me for €64K.

    Any advice as to the most tax efficient way to purchase the site,

    Also can I transfer the loan I am taking out to a mortgage later-not building for a year or two so can't get mortgage now?? Any banks offering loans to purchase a site -will only be buying if planning secured.


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    #2
    Baoithin66
    Registered Users Posts: 185 ✭✭Baoithin66


    thanks-amended


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    #3
    BryanF
    Moderators, Home & Garden Moderators Posts: 10,140 Mod ✭✭✭✭BryanF


    Talk to your lender. I’d imagine they will want planning and costings before allowing any mortgage draw down. And taking out a loan for the site separately will likely go against you if they are not on board pre-site purchase.


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