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At the moment, it isn’t only farmers who are engaged in acquiring farmland. Large numbers of people need somewhere private to live or some-place they can use for outdoor hobbies and interests. Others see farm land as a place to set-up a business enterprise that necessitates a considerable amount of room.

Whoever you are it vital that you do your research before you spend money on agricultural land. The 1st question you’ll want to think about is what you want to use that land for? If you are purchasing the land as an investment you’ll want to think about what can be done with that area of land? The next question that needs answering is what am I allowed to do with this plot of land? Agricultural land is subject to planning permission including several restrictions, which may not permit you to build on it or use it for a non agricultural small business or hobby.

Rural land is classified into different grades, which reflects how fertile the land is and how easy it is to farm. Generally speaking the higher quality agricultural land (grades 1, 2 and 3A) are very rarely allowed to be used for anything other than farming. That said if you want to rent the land out to a farmer and build a new house for your family on a small part of your land you are likely to be allowed to do so.

You’ll want to speak to the local council or in some cases the National Park Authority regarding planning regulations. Should you have a specific non agricultural project in mind for the agricultural land you are thinking about it is a good idea to do this before acquiring it.

As well as finding out what grade the land you are looking at is and what the local planning policy is for that land you must also consider the physical characteristics of that land. For example if the land is prone to flooding you are unlikely to be able to build anything at all on it. If the land is very steep, again, it may not be suitable for many projects.

Whatever, the reason for your buying rural land getting finance for your purchase can sometimes be difficult. This is largely because not all of the big banks and building societies have the relevant specialist knowledge needed to process mortgage applications for rural land. They tend not to see the potential and as a result are more likely to reject your application. This is why using a specialist mortgage broker is a good idea when buying rural land.

For the best advice on a agricultural mortgages, visit us today where you can also find guidance on Land mortgages and loans