There are just so many advantages to having a garden in the UK. It’s a quiet place where you can get away from the stress and hustle bustle of either the city or country. A garden is also a private retreat where you are able to relax and appreciate nature at its purest form. It makes for a wonderful and idyllic setting for an afternoon nap, a romantic evening picnic or a friendly game of catch.
However, gardens aren’t just for relaxing any more! With the housing market crash and recession in full swing, people are being left with a massive amount of debt on their properties. Some have even lost everything they had to leave behind! Thankfully, the UK garden industry has woken up to this fact and the sector has begun to develop financial products to help you keep up with the costs of owning a garden. These finance options can give you the financial security to ensure that whatever you choose to do with your garden, you’ll be able to do it without hassle.
Garden finance allows you to keep up with the rising costs of buying and maintaining a garden. You can choose from a wide range of financial products that will allow you to enjoy your garden for as long as you wish. You can opt for a standard loan, which will allow you to borrow a set sum of money over a specified period of time. Or you could opt for a Garden loan which means that your existing property is used as the source of capital for the loan. With this type of arrangement, you will receive the monthly repayments that you would normally receive for your garden, but will only have to pay this back once your garden has grown to a certain size.
If you prefer to have a bit more flexibility, then a Garden equity loan could be right for you. This type of finance is based on the amount of space that you allocate for your garden design. You will be able to borrow a set amount of money each month and use it to pay off your initial loan. You may find that the interest rate charged by lenders on garden design loans is slightly higher than the rate charged on a standard home loan. However, it can also be spread out over a much longer term, meaning that you will pay less in the long term for your garden design.
Another option that you may want to consider is the investment towards your garden design. Some people choose to pay a deposit towards their garden design and then take out a mortgage to invest in the garden. Alternatively, there are companies who will buy your garden from you, and then re-finance the mortgage to create a fixed amount that you will have to pay each month towards your garden design. This is an excellent way to invest in your garden – however, bear in mind that this type of investment will require you to be positive that your garden design will profit in the future.
There is also a choice between taking out a loan and paying towards your garden design. It really depends on your circumstances. If you already have a fairly substantial garden that you are happy to protect, then borrowing a finance loan can be a good way of doing so. However, it will probably be necessary to provide evidence that you will be able to repay the loan should the need arise. This is why many people prefer to put their money into their garden design rather than into a loan.
Of course, if you are starting out with your garden design, then you may be happy to make a ‘wash sale’. In effect, you will sell any spare fixtures and accessories in your garden and take whatever capital you have away with you. You may also decide to move to a different house – or even move abroad. This type of sale is often seen as a great opportunity for those with a garden who may struggle financially.
Whether you decide to go for a loan or a sale, remember to shop around for the best deals. It can be frustrating to go to one place and find a selection of loans and finance and then end up with a poor deal. It’s worth going around to a variety of garden finance suppliers and brokers to get quotes from a variety of lenders. By comparing these quotes, you’ll be better able to work out what sort of deal is best for you. Once you have the basics sorted out in terms of your garden design, the financial side can come easily.