Re: Looking for a 20 acre vacant land loan
Posted: Thu Jul 04, 2019 6:45 pm
Hello Makaveli. Welcome to the forums.
Yes, for a 20-acre vacant land loan, there are few lenders on our panel that can lend:
Apart from land size, each lender has its own requirements such as:
Cheers,
Yes, for a 20-acre vacant land loan, there are few lenders on our panel that can lend:
- Up to 95% of the property value for vacant land less than 11 hectares (27.2 acres).
- Up to 100% of the property value with a guarantor loan which is available with select lenders.
Apart from land size, each lender has its own requirements such as:
- Utility requirement: Most require electricity and town water. Some accepted bore or tank water, solar panels etc.
- Access requirement: Has to have a sealed or gravel road access to the property.
- Zoning: For most the zoning has to zoned residential, rural residential or rural. Other zones such as mixed-use zones are considered on a case by case basis.
- Postcode: Each lender has its own postcode restriction.
- Intention to build: If you’re not planning on building in a year or less, lenders may consider it speculative investing and decline your loan.
Cheers,