Collen & Ivan
Coldwell Banker Previews International
I recently helped family friends from Loucester, England purchase land for building their dream estate. It is a great option if you have the cash to purchase the land, hire a great contractor and architect (I have several incredible contacts) and can afford to pay for the construction fees (construction financing is very tough as was mentioned). In the price range you mentioned at the current time and areas you want to live you won't find anything that you'd like or want to build. My suggestion is to rent in the meantime, build up your credit history and then keep your eyes on market opportunities. I'm happy to assist you with all of these.
Keller Williams Realty
How are you? Where in London are you from? I am English too, from Canons Park and Edgeware area. I tend to agree with the answer Monique gave you. Without established credit to will be very difficult acquiring a loan. However, I do have some wonderful Loan Brokers that I deal with who may be able to assist you. One question I'd like to ask you, is building your home a requirment or are you open to looking at pre-built custom homes? I'd love a chance to chat with you more extensively and perhaps help you with your search. Please call me at the number listed below and we can chat.
Pinnacle Estate Properties
Usually construction on a lot can run $250 dollars per square foot (builders grade ) not including the land/plans and ground work (retaining walls, foundation, caissons, excavation). You best bet is to get a piece of land that already has approvals and some ground work done to it. With that being said an existing project might be your best bet. There is little financing available for construction either. In order to qualify for a loan, I'd have to get more info from you and could connect you to a few lenders to go over your situation.
In the meantime, if you need assistance finding a rental until your ready to purchase, let me know.
Usually lenders want to see about 2 years of credit history (possibly less).
The Carrabba Group
Keller Williams Hollywood Hills