- Agricultural Ties
- Restricted Use Properties
- Agricultural Restrictions
- From 10% Deposit
- No Credit Scoring Application for Some Lenders
- Common Sense Underwriting
- Interest Only and Repayment
Agricultural Tie Mortgages
A property with an Agricultural Tie (also called an Agricultural Restriction) can sometimes be difficult to mortgage.
The main reason for this is that the Planning Authority has imposed a condition on who can live at the property. This is usually when the property would not normally have been granted planning consent and/or the Planning Authority wish to ensure that the property is occupied by a person employed locally in agriculture.
As a result of this restriction, mortgage lenders tend to take the view that should the property be sold, e.g. if it needs to be repossessed following failure to meet the mortgage payments, the market for new purchasers of the property would be restricted to only those that could satisfy the agricultural tie and it therefore will be more difficult to sell when compared to a standard property.
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