secured loan on building plot ? (equestrian tie)

bobbysox1v

We own a large plot of land that is currently used for equestrian purposes. We have obtained OPP for a barn with living over. The council have placed a tie on it that it must be used for the purposes of rehabilitating horses (that was why we wanted it) and that it cannot be run as a business (which is not in dispute).

We have however hit a bit of a problem with financing the build. We anticipate needing around £70k as we have equity from the sale of our home.

Does anyone have any recommendations for lenders who will lend against the value of the land and not against it being a business or a tied property.

jonesMUFCforever

That seems very restrictive and a lot to spend if not used for some kind of business practice.
You need to speak to a mortgage broker.

flower77g

Sounds like the sort of thing that Ecology Building Society would consider