Loans for buying land

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bb12

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Can you get a mortgage type loan for buying land? Is there any bank in particular that would specialise in this type of loan? Any info appreciated. Thanks!
 
What type of land are you looking for? Is it development land or for agricultural purposes? Banks will lend on the strength of the value of the land that you are purchasing (and may seek additional security). It will all depend on the use of the land, zoning, planning permission etc etc.
 
Well then the answer to your question is yes. Basically a bank will take a charge / equitable deposit of the land and will lend you a portion of the value of same - usually about 75%. Obviously you will have to prove your ability to repay the loan.

Are you farming at the moment? You may want to look into the various stamp duty reliefs that can be availed of by young trained farmers (for this you must complete a 180hr Teagasc Course and be under 35 years of age).

Hope this helps
 
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