Re: What do banks think about hobby farms?
Posted: Fri Jan 18, 2019 8:53 pm
Hey Megan,
Welcome to the forums.
When it comes to hobby farm loans, lenders will typically allow you to borrow 90% of the property value or 90% LVR (Loan To Value Ratio).
However, if the location is considered a restricted postcode, your borrowing power may be restricted to 80% LVR.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will let you know which lenders have the most flexible policy when it comes to acreage loans.
Check out the for more details.
Cheers,
Otto
Welcome to the forums.
When it comes to hobby farm loans, lenders will typically allow you to borrow 90% of the property value or 90% LVR (Loan To Value Ratio).
However, if the location is considered a restricted postcode, your borrowing power may be restricted to 80% LVR.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will let you know which lenders have the most flexible policy when it comes to acreage loans.
Check out the for more details.
Cheers,
Otto