CASE STUDY: Property Acreage
Nov 27, 2019
The Client’s were looking to raise £400,000 to repay a mortgage on a 2nd property that they also owned. The issue they were having was that the property had 40 acres of agricultural land attached to it and this was not something that a lot of lenders would consider
How did we help?
Due to the Society’s flexible approach to underwriting our Lending Criteria allows us to accept applications with no limit on total acreage, we are also comfortable with agricultural land being used for private use, so this also didn’t pose an issue for us.
We were able to proceed straight to application and allow the client to repay the mortgage on his other property.
Stafford Railway Building Society
4 Market Square, Stafford, ST16 2JH www.srbs.co.uk