Scottish Community Land Network

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This site is for people interested in the management and ownership of land-based assets by communities in Scotland. A Scottish Community Land Network, you might say... As you know the internet is a big 'place' with everything about anything so we aim to bring you relevant news and events, and provide opportunities to share ideas with other people interested in this subject. So far there are over 800 members, and more than 500 articles in our archive.

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Crofting

Crofts and mortgages

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Details: Thursday, 03 June 2010 16:58 Tamsin Morris Hits: 420

Somewhat controversially, the Cairngorms National Park Authority (CNPA) planning committee have voted to remove a Section 75 agreement from a croft in Newtonmore.

A section 75 agreement legally binds any properties built on a croft to the land, with the aim of ensuring the continued working of the land. However, it appears that banks are unwilling to offer mortgages on houses with these agreements as they wouldn't be able to sell the house on the open market if the house is repossessed. The CNPA planning committee agreed to remove the agreement from a croft so that a mortgage could be made available. They've now suggested to lenders that a possible solution would be the implementation of a 'cascade' mechanism which would allow the property to be advertised to steadily widening categories of people.

You can read the full story on the CNPA website.