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Mortgage restrictions when there is land involved?

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  • 21-11-2016 8:13pm
    #1
    seanagh92
    Registered Users Posts: 22 ✭


    Hi,

    I've been looking for a mortgage for a house on 12 acres. The house itself is on an area of about 1 acre, then we have fields all around the property (all connected, adding up to 12 acres).

    I have tried a few banks so far, only to find out that they will give 90% of the value of the property but only include 5 acres (AIB), 2 acres (Ulster Bank) or none at all (KBC).

    Can you tell me straight away (rather than the half hour process before you can enquire about this) whether or not Bank of Ireland will consider land when giving a mortgage?

    Advice would be appreciated!


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    #2
    Bank of Ireland: Tara P
    Closed Accounts Posts: 573 ✭✭✭Bank of Ireland: Tara P


    seanagh92 wrote: »
    Hi,

    I've been looking for a mortgage for a house on 12 acres. The house itself is on an area of about 1 acre, then we have fields all around the property (all connected, adding up to 12 acres).

    I have tried a few banks so far, only to find out that they will give 90% of the value of the property but only include 5 acres (AIB), 2 acres (Ulster Bank) or none at all (KBC).

    Can you tell me straight away (rather than the half hour process before you can enquire about this) whether or not Bank of Ireland will consider land when giving a mortgage?

    Advice would be appreciated!
    Hi Seanagh92,

    Thank you for contacting us here on Boards.ie.

    If you’d like to send a private message including your name and contact number we will be happy to arrange for a Mortgage advisor to call you directly and discuss your options.

    To send private message please see link below in my signature.

    Thanks,

    Tara C


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