A Loan to Purchase Farm Land is not as straight forward as a loan to purchase normal residential land. With varying policies from different lenders it can be a mine field to match the right lender with your circumstances.
A long term client of ours saw an opportunity to return to his roots and invest in some farm land in rural Victoria with a close friend of his. The client had done well to build up equity in his home which allowed him to borrow 100% of the purchase price plus cost. This allowed both partners to split the loan fair 50/50 and claim maximum interest expenses for the purchase.
The client also wanted to complete some renovations on his house later in the year, hence it was important to us that we found a lender and provided a loan structure that would not interfere with these plans.
A lender was sourced and we worked with the Banker to have the loan approved through to settlement. We look forward to hearing how their plantation grows and perhaps assisting them with the purchase of farming equipment.
If you are looking for a Loan to purchase some Farm land, whether it be for a hobbie or business, please don’t hesitate to contact us to see how we can help.