There are just so many advantages to having a garden in the UK. First, it’s a quiet place where you can escape the stress and the hustle and bustle of the city or the country. A garden is also a private retreat where you can relax and appreciate nature in its purest form. It makes for a beautiful 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 left with massive property debt. 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 enable you to enjoy your garden for as long as you wish. For example, you can opt for a standard loan, allowing you to borrow a set sum of money over a specified period. 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 arrangement, you will receive the monthly repayments you would usually receive for your garden, but you will only have to pay this back once your garden has grown to a specific size.
A Garden equity loan could be right for you if you prefer more flexibility. This type of finance is based on the amount of space you allocate for your garden design. You can borrow a set amount each month to repay 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 over a long time for your garden design.
Another option you may want to consider is the investment in your garden design. For example, some people pay a deposit towards their garden design and then take out a mortgage to invest in the garden. Alternatively, some companies will buy your garden from you and then re-finance the mortgage to create a fixed amount you will have to pay monthly for your garden design. This is an excellent way to invest in your garden; however, remember 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. Again, it depends on your circumstances. If you already have a reasonably 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 start with your garden design, you may be happy to make a ‘wash sale’. In effect, you will sell light fixtures and accessories in your garden and take whatever capital you have away. You may also decide to move to a different house or abroad. This sale is often seen as an excellent opportunity for those with a garden who may struggle financially.
Whether you decide to go for a loan or a sale, remember to shop 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. Instead, it’s worth going to various garden finance suppliers and brokers to get quotes from multiple lenders. By comparing these quotes, you’ll be better able to determine what deal is best for you. Once you have the basics sorted out regarding your garden design, the financial side can come quickly.