Rural Properties
A rural loan is for a property situated outside the metropolitan area, generally consisting of a residence where no income is derived from the property.
Rural properties are sometimes located on the fringe of cities or towns and are solely for the purpose of private or personal investment use.
If the purchase of the rural property is to be used for income producing purposes, such as commercial/hobby farms or income producing purposes, or as a short term speculative investment, please refer to our Commercial/Business pages.
Not all lenders are keen to lend against rural properties, and the majority will place restrictions on the acreage or proposed land use of the property.
Rural loans may have restrictions placed on them such as:
- Location - within kms of a major township or population centre
- Maximum size restrictions - Maximum acreage/hectares which can range from 5 -10 acres/hectares through to an unlimited size. Most of the lenders have different lending criteria and interest rates, and conditions can vary substantially between lenders, even so far as to whether the loan is considered as a personal or business venture. Please discuss your options with our Lending Specialists loan consultants.
- Income from property - Lenders will generally consider income generating rural properties as a commercial enterprise, however, there are exceptions. Please discuss your options with our Lending Specialists loan consultants.
- Land Use - As above. Please discuss your options with our Lending Specialists loan consultants.
- Zoning- Rural/Residential or Township
