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How to secure loan for land - non farmer

flashforward · 2022-08-01 13:30:44

A parcel of land has come up for sale which borders my site (will likely go for ~200k). I don't farm. I've equity in my home which if I could remortgage would cover the loan but I've been told by a mortgage advisor that I can't remortgage the property and use the money for purchase of land. I spoke to BOI agri loans but…

Comments

#62 30-07-2023 06:19PM

Pipermania

Registered Users, Registered Users 2 Posts: 10 ✭

Join Date: November 2020

Posts: 10

I know this answer might be a bit late, but I just saw your post and wanted to chime in. Financial questions can be a real puzzle, huh? When I had a similar situation, Mortgage Broker in Cheltenham really saved the day! They provided expert advice and helped me navigate tricky situations. Since you've got equity in your home and repayment capacity isn't an issue, it's all about finding the right lender. Sometimes, banks have specific criteria for land loans, but don't give up! Keep exploring different options and reach out to experts in the niche for personalized advice.

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