Mortgages for Properties with Agricultural Restrictions
Are you buying a property with an agricultural restriction or do you need refinance for a property with any agricultural restriction?
Farm and Country Finance often receives enquiries from customers who want to buy a property with an agricultural restriction or remortgage a property with an agricultural restriction.
Agricultural restrictions are also known as agricultural ties, agricultural occupancy conditions (aoc’s) and colloquially as ag tags.
An Agricultural Restriction is a condition imposed by a Planning Authority, when granting planning consent for the building of a dwelling, usually in an area where otherwise development would not be allowed. Sometimes an agricultural restriction is wrapped up as part of a section 106 (of the Planning Act 1990) agreement). The planning objective is to limit the occupation of the property essentially to those engaged in agriculture, which limits the market to which the property can be sold.
A planning restriction will have an impact on mortgage availability for a property with an agricultural restriction.
- There will be fewer lenders around willing to advance a mortgage on it and;
- A restriction will have an impact on valuation.
It is therefore important to approach a specialist finance broker, like Farm and Country Finance, to arrange finance. Some of the enquiries we receive are from customers who are seeking a mortgage for a smallholding and find out it has an agricultural restriction which has resulted in their lender withdraws the mortgage offer.
We also receive enquiries from other brokers who have come unstuck by trying to place a mortgage for an agricultural restriction with the wrong lender.
Why use Farm & Country Finance to arrange your finance?
- A well-established and reputable company.
- Hands on and experienced.
- We work in partnership with our customers to help them achieve their goals.
- We try to find a solution but if we can’t we will tell you honestly.
- References are readily available.
Other things to consider:
- Farm and Country Finance has been successfully raising farm finance and rural finance for years including mortgages for properties with an agricultural tie.
- Farm and Country Finance backs up what it says by providing testimonials and case studies to demonstrate how it has helped its customers to arrange their finance or mortgage.
- Our experience of farm and rural finance is backed by the qualifications and experience of its owners.
- We always give straight answers to questions about finance for properties with agricultural restrictions.
- Farm and Country Finance generally operates on a no win no fee basis.
We hope that this will inspire your confidence to engage us as your natural choice to arrange your farm or rural finance.
Key points the finance for properties with agricultural finance that we arrange
- All circumstances considered with honest feedback.
- Problem cases sympathetically considered for those with mortgage arrears, court judgments and other adverse credit scenarios.
- Access to lenders with flexible lending criteria– full evidence of income may not be required, with schemes where no accounts are available.
- Competitive rates.
