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Large acreage mortgages

Written By:
Myles Robinson - Expert Finance Advisor

Posted: Feb 6, 2023

Large acreage mortgages – How to get a mortgage on a property with lots of land in the UK

It doesn’t matter if you are a first-time or experienced home-buyer; purchasing a new property is exciting.

It can also be complicated, with many details to organise, such as your land mortgage. The mortgage aspect of a property purchase that involves significant amounts of land can be more difficult – this is known as land mortgages.

It doesn’t have to be complicated; this is why we offer mortgage advice free of charge. We can help with a commercial mortgage, land finance and a standard residential mortgage.

Click the link below for mortgage advice from a mortgage broker. Our job aims are mortgage approval and finding the best mortgage deal for you.

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How to get a large acreage residential mortgage?

People who want to purchase a large home on a lot of land could be entitled to land finance.

Although the circumstances may vary, concerns about needing a specialist loan are common when reading about land mortgages.

We understand that owning a plot of land for residential or commercial use can be a dream come true for many. This is why we recommend speaking with a specialist mortgage advisor who is experienced in providing specialist mortgages to discuss a land mortgage and a commercial mortgage.

This article will give you an idea of how to get a mortgage on agricultural land or for a home with large acreage.

We work on agricultural mortgages and specialist finance daily. Begin your journey to mortgage approval by clicking the link below. We can help with your mortgage application and introduce you to our mainstream lenders.

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Can I get a mortgage on a large amount of land?

Land properties have been popular investments for many years. Some people dream of owning and buying land. They can build their own home with self-build mortgages while enjoying the land for whatever purpose.

You could also use the land to create a second residence or residential property or protect it from development.

No matter your reason for purchasing large acreage, you require a specialised lender to review your mortgage options.

A specialist mortgage is required if commercial plans are involved or the land is intended for agricultural purposes. Planning permission could also be required.

A mortgage loan for land intended for commercial use will be approved by some highly skilled lenders. They would need to review your mortgage application plans carefully, which could take some time.

Speak with an experienced mortgage broker like the ones we work with, who will then introduce you to an appointed representative mortgage lender. They will answer your questions about large-acreage mortgages and offer better mortgage deals than high street lenders.

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What are the best places to get a mortgage on a home that has a large land area?

You might have trouble finding the right mortgage if you start your search for a mortgage to purchase a large property with too much land.

Large acreages can be classified as residential, commercial, agricultural or mixed. These details will affect how a mortgage underwriter evaluates your secured loan. This is different from a residential mortgage.

Some high street lenders may not offer mortgages for a large-acreage property. Some specialist lenders can handle mortgages for many types of property and land purchases. However, not all lenders will be able to provide the mortgage that you require. You may not get the best terms and interest rates even if they are from private banks.

Qualified mortgage brokers with experience in the speciality mortgage market and the requirements for lenders for large-acreage properties can help you understand all you need and find the right mortgage.

Click the link below to begin your journey to discuss properties with land, buy land, and acreage limits and find mortgages tailored to you.

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What are the limits on the acreage for conventional mortgages

A high street lender may still be able to provide a mortgage if you are buying land or property for residential use. There are restrictions on how much land they will accept for a conventional residential mortgage.

Most lenders can set their limits for conventional mortgages.

The acreage limit for mortgage lending varies, ranging from 2 acres to 15. Some lenders claim they don’t technically have any limits on conventional mortgage products.

Even if the process is handled case-by-case, you can expect higher mortgage interest rates and delays in mortgage approvals and arrangements.

You can speak to your lender if you are home movers and ask about any restrictions on larger acreages in their range of mortgages.

Although this will provide you with more information about the potential mortgages they could offer, it doesn’t mean you can compare their rates with other lenders.

Specialist lenders could give you the mortgage you need in a shorter time frame, with a lower interest rate and terms that are better suited for your needs. Expert mortgage brokers will find the best lender for you.

Talk to a mortgage advisor who specialises in large-acreage loans

If you are looking for a land mortgage, farm finance, residential mortgage or any other mortgage on the market. Click the link below to begin your journey.

We can discuss any questions you may have, repayments on your mortgage, typical fees etc. and then introduce you to a specialist lender.

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