Only two years ago there were a lot of problems with the purchase of a plot for a loan, now it is easier. The easiest way to get a loan for a construction plot, of course, will also be easy to get money to buy a recreational or habitat plot, i.e. an agricultural plot, part of which is intended for development.
Loans for the purchase of such plots of land can be obtained from most banks. The most difficult will be to buy an agricultural plot of more than two hectares. For the purchase of agricultural plots of more than two hectares, or actually land, we can obtain loans.
Interestingly, such a loan will not receive a farmer
because it can only be a person who does not receive income from agricultural production. In this way, banks secure themselves against using housing loans to expand farms.
A loan for the purchase of a plot of land can be taken out in USD or in a foreign currency – currently the most popular is the Swiss franc. The interest rate on loans for the purchase of plots is the same as for housing loans. In the case of plots of land, many banks use shorter loan periods than in the case of apartments.
Remember that such a quote may differ from the transaction price. In most banks, the valuation will be made for free by an expert appointed by the bank, in others, you have to pay for it. In the latter case, the appraiser can be selected from the list of all property appraisers or from the list of appraisers approved by the bank.
A loan for building a house can be taken only after receiving the building permit. However, obtaining a permit takes several months.
In this situation, the builder has two options
He can increase the amount of the loan he took for the purchase of the plot or take a new loan while refinancing the loan for the plot. However, it is not possible for a loan for a plot of land and for construction to be taken out in various banks. The collateral in both cases is a mortgage of the plot.
And no bank will agree that its mortgage should appear in the land and mortgage register as the second, which is the worse position. When buying land, the most important is location, which is the main determinant of the price.
The concept of “location” includes both the natural values of the plot and the surrounding area, as well as transport infrastructure issues, and above all the possibility of quickly reaching its location. When a customer finds a plot whose location suits him, he must check its status.
The plot should be examined by checking its right condition
And the possibility of placing a house on it. The customer verifies whether the seller of the plot has an ownership or perpetual usufruct. The plot can also be jointly owned by several people, then all these people must participate in the sale transaction.
Whether it is possible to build a year-round or summer house on the plot depends on how the area has been classified in the local spatial development plan. Most often, the plot is immediately referred to by the seller as construction, recreational, habitat, agricultural or forestry.
However, the buyer should, in addition to the land and mortgage register, check the local plan to see if the plot is really suitable for building. If there is no plan, building conditions issued on the basis of a spatial development study will be necessary for construction.