Recommendation of a mortgage broker for rural property s
Discussion
Thanks for the input.
I should have included that we aren t looking to run a business from it for the time being.
From what I understand a lot of lenders won t lend on a property with over 10 acres. Also they have problems with septic tanks not being up to standard. The houses I m most interested in will be elderly owners or probate property s. As I want a project and I m finding these property s have non compliant septics and the sellers aren t willing to fit a new septic tank before they sell.
I d like to find a broker that understands all the pit falls before we get to them.
I should have included that we aren t looking to run a business from it for the time being.
From what I understand a lot of lenders won t lend on a property with over 10 acres. Also they have problems with septic tanks not being up to standard. The houses I m most interested in will be elderly owners or probate property s. As I want a project and I m finding these property s have non compliant septics and the sellers aren t willing to fit a new septic tank before they sell.
I d like to find a broker that understands all the pit falls before we get to them.
Edited by TVR Tommy on Thursday 23 April 10:32
TVR Tommy said:
Thanks for the input.
I should have included that we aren t looking to run a business from it for the time being.
From what I understand a lot of lenders won t lend on a property with over 10 acres. Also they have problems with septic tanks not being up to standard. The houses I m most interested in will be elderly owners or probate property s. As I want a project and I m finding these property s have non compliant septics and the sellers aren t willing to fit a new septic tank before they sell.
I d like to find a broker that understands all the pit falls before we get to them.
I found the same when I was looking for a property 18 months ago - 10 acres seems to be a magic ceiling number where a lot of lenders won't offer a domestic mortgage they class it as commercial. I should have included that we aren t looking to run a business from it for the time being.
From what I understand a lot of lenders won t lend on a property with over 10 acres. Also they have problems with septic tanks not being up to standard. The houses I m most interested in will be elderly owners or probate property s. As I want a project and I m finding these property s have non compliant septics and the sellers aren t willing to fit a new septic tank before they sell.
I d like to find a broker that understands all the pit falls before we get to them.
Edited by TVR Tommy on Thursday 23 April 10:32
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