How To Finance Buying A UK Rural Home

If you’re looking for a rural property with a large amount of land, it’s important to find the right lender. Buying a Cotswold farmhouse with 48 acres requires a specialist rural lender. Buyers of such properties typically come from wealthy families with complex incomes, which can prove challenging to assess with a high street lender. Barn conversions on farms are also highly sought after. Barn conversions can provide modern open-plan living with period features.

Farm outbuildings suitable for barn conversions

While it’s possible to convert small outbuildings into barns, traditional farm buildings are not as simple to renovate without major alterations. These buildings may retain their original ground floors, including brick, thick clay tile, stone paving, and drainage channels. They may also serve as areas for future development. Avoid adding overtly domestic elements to these buildings, as they detract from the character and historic significance of the main structure. Instead, carefully consider using materials compatible with the style of the existing structure.

A barn conversion can be an ideal way to convert an outbuilding into a unique property. Although these projects can be challenging, the benefits are many. Barn conversions can create spacious, robust, and characterful homes. Whether you’re looking to renovate a barn, build a new home, or invest in a renovated existing one, you’ll have a unique opportunity to transform an outbuilding into a new, beautiful space.

Shared ownership schemes

Traditionally, the perception of buying a rural home is that it is only for the rich and famous. However, with the advent of shared ownership schemes, this could be changing. Many rural residents have complained that they are being priced out of new developments and out-flanked by urban families. By providing a low-cost way to buy a rural home, shared ownership schemes are enabling first-time buyers to stay in their area.

As part of the shared ownership scheme, the initial deposit can be as low as 1.25% of the value of the property. The downside of this scheme is that the monthly payments are higher than those of full ownership. But the upsides of a shared ownership scheme are many, and they are based on the preferences and circumstances of individual buyers. Here are some pros and cons:

Starter homes

Financing a rural home can be tricky, especially if you’re purchasing a property that has been out of production for some time. However, there are a few ways to get the funds you need to purchase a rural home. Firstly, you need to consider the price of your property

A rural mortgage is only available from specialist lenders who specialise in lending to rural property. This is because land is seen as a higher risk than most properties. If you miss repayments, your home could be repossessed and you may not be able to sell it. This means that it is important to research lenders carefully before making a final decision. Here are some tips for securing a rural mortgage.

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