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Author Topic: Remortgages / Mortgages  (Read 1327 times)

digitaldanuk

  • Joined Apr 2017
Remortgages / Mortgages
« on: July 31, 2017, 12:54:23 pm »
Hi all,

I am new here but do follow TAS on Facebook :) *waves*

I was wondering if any forum members have any experience of obtaining a mortgage for their small holding?

We are trying to obtain a mortgage on our smallholding that we already own to raise funds but are hitting hurdles left right and centre because the land parcel contains a farmhouse, a barn where we store hay bales which we use for our own consumption, a couple of fields and we keep sheep, lots of residential lenders dont want to know.

It's only a very small LTV (we're wanting to borrow 80k and the property is valued at 500k but even this small LTV is still proving difficult. Neither of us make our living through the small holding but we do own a few sheep and there does exist a farm partnership at the address.

Has anyone got any experience of similar situation or perhaps have any tips on where to start?

Many thanks!

Daniel

 

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