How do I finance a land purchase?

I am interested in buying some land. I have never done this before, so I am unsure where to start. Would I need to take out a personal bank loan?

Financing a plot purchase is normally done by way of a self build mortgage. However, this funding won’t be granted on what is called ‘land only’, including a situation where you only want to buy the plot but not yet begin construction. To qualify for a self build mortgage, you need to be ready to build with a full design and planning permission in place. e mortgage funds and your own monetary contribution also need to be adequate to cover both the site purchase and construction costs.

So if you are looking to buy land but not build yet, then you would need to look at other ways of covering this. You could release equity from your existing property or instead use a personal loan. Both of these options would, of course, depend on your own personal and financial circumstances.