Mortgage for house with land

johnnyfruitcake · 01-10-2021 5:18pm #1

Is it possible to get a mortgage for a house with 7 acre's that are on the one folio?

I've been told no, won't happen

beveragelady · 01-10-2021 5:44pm

I did it!

Who told you it won't happen? It was pretty straightfoward.

johnnyfruitcake · 01-10-2021 6:12pm

When did you do it? And how much land?

Heard it from a broker.

beveragelady · 01-10-2021 6:22pm

Seven and a half acres including the bit taken up by the house and the driveway etc. I got a good deal on the whole thing and my repayments are quite small, maybe that's why it was such a smooth process.

The only complication of any sort was that the house is valued at X and the land at Y, so it affects the percentage paid as stamp duty.

I think either you're looking at something that the broker reckons you can't afford or your broker is talking horseapples.

beveragelady · 01-10-2021 6:24pm

By the way, this was in 2015, so not ancient history.

At no point was there any question about whether the land would be productive or anything (just as well!) It was just dealt with as part of the mortgage application.

johnnyfruitcake · 04-10-2021 8:54am

Ok, good to know.

The land around is not being farmed, has a small orchard and a few trees.

What is the deal with stamp duty?

Dempo1 · 04-10-2021 9:23am

I'm just curious, can the OP's Folio not be split into 2 distinct folios , keeping say 1/2 acre around the house to facilitate a mortgage on this.

Again, I'm more curious if this is possible based on an situation I'm aware of. I purchased a gate lodge type cottage 20 years ago. I honestly can't remember exact details but I believe my property created after it divided into 2 folios a few years before I purchased from vendor. Essentially two sites were formed .

Mine with cottage and 2/3 acre.

Adjoining Site slightly over an acre.

An attempt to get planning on adjoining site was refused ( protected structure in next field , Castle ruins etc) there was perhaps other issues, that was over 25 years ago and before I purchased my cottage.

Now I've an acre site next to me as a separate Folio to my own site , I have part ownership of it and maintain it, Trees, lawn etc. No planning will ever be permitted, I'm happy enough with that.

So, just wondered is it possible for OP to create 2 distinct folios, one for house, one for the spare few acres is this even an option.

johnnyfruitcake · 04-10-2021 9:54am

https://www.daft.ie/for-sale/detached-house-clomantagh-barna-clonmantagh-co-kilkenny/3547587

Have a look and see what you think.

Is this a fair price?

Dempo1 · 04-10-2021 10:05am

https://www.boards.ie/discussion/comment/117973404#Comment_117973404

Personally, yes I think so, fabulous house, 10 acres , new roof, refurbished etc . Interesting the Folios seem to split into 3 separate folio, so possibly potential to sell excess land .

I couldn't begin to imagine the cost to renovate a property this size in today's market.

johnnyfruitcake · 04-10-2021 10:15am

Yea it's in the one folio but in a zig zag shape.

Fingers crossed we can get it.

Dempo1 · 04-10-2021 10:30am

https://www.boards.ie/discussion/comment/117973500#Comment_117973500

Good luck, love Kilkenny myself, worked in Mount Juliet many moons ago .

johnnyfruitcake · 04-10-2021 12:06pm

Thanks, the asking price is a bit high for us to afford but hopefully we can make a deal if there's not much interest.

Probably dreaming about low interest.

Mortgage for house with land

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