All Topics / Finance / Rural Land Finance

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  • Profile photo of JetisonJetison
    Member
    @jetison
    Join Date: 2011
    Post Count: 2
    March 2, 2011 - 2:39 pm

    Some advice would be appreciated in the rural land financing sector. Ive read many websites that the major players won't touch vacant rural land. In my case it is solely for recreational purposes. I'm not a farmer and only using it to escape the rat race. Can anyone shed light on who may broker such deals?

    Thanks

    Profile photo of Tracey BTracey B
    Participant
    @tracey-b
    Join Date: 2009
    Post Count: 158
    March 2, 2011 - 6:48 pm

    Hi Jetison
    We financed a rural block late last year with NAB – one of their Lifestyle products – 70% of valuation.  Despite knocking on many doors including a couple of brokers, NO other lenders would touch it as we weren't planning to build on it.
    Good luck,
    Tracey

    Profile photo of JetisonJetison
    Member
    @jetison
    Join Date: 2011
    Post Count: 2
    March 2, 2011 - 7:05 pm

    Thanks Tracey

    I will give them a call and see what they can do for me. I would be financing about the same but would build in the next three years but only as a holiday home so that may sway them a bit more.

    Jetison

    Profile photo of Mick CMick C
    Participant
    @shape
    Join Date: 2010
    Post Count: 1,099
    March 3, 2011 - 4:23 am

    Jetison,

    Rual area and Vacant land…going to be tricky! – what are you planing to do with the land???
    What LVR and also what is the postcode?

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

Viewing 4 posts - 1 through 4 (of 4 total)

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