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Mortgage restrictions with residential farm - help!!

  • 21-11-2016 7:07pm
    #1
    seanagh92
    Registered Users, Registered Users 2 Posts: 22 ✭


    Hi all,

    I'm looking for a mortgage at the minute for a house on 12 acres.

    We found out as soon as we started looking that there are restrictions on houses with land.

    Ulster Bank will give a mortgage for 90% of the value of the property and will consider properties with up to 2 acres.

    AIB will give a mortgage for 90% of the value of the property and consider properties with up to 5 acres.

    KBC will give a mortgage for 90% of the value of the property but will not give anything for land.

    Has anyone any experience in this area? Which banks are best to go to when there is land involved?

    We're in the process of and application with AIB as they will consider the land on a case by case basis, but we should really have a backup (as we are still waiting to hear back). Banks? Brokers? Building society?

    Any advice would be much appreciated!!

    Thanks in advance!
    Tagged:


Comments

  • #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    BOI have an agricultural advisor who will advise the local branch on cases like this. I'm not sure about percentages etc.


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