finance for rural land

[HomesForAll]

Hi,
Hoping someone can give me an idea of how the banks will view rural land.
Basically someone is subdividing off part of their farm, about 10 acres, on the outskirts of a country town but within 5 km of the the main street. Town of less than 1000 people. I am hoping to purchase as vacant residential land, no farming activities, with a view to building an investment property or maybe holiday house.
Would the banks do an 80% lend without LMI? Serviceability will be fine. Loan value something like $500,000.
I'm not sure of the zoning or caveats or anything like that, REA haven't yet replied to any emails.
Cheers,

 

[Qlds007]

I imagine zoning will be Rural or possibly Rural Residential at a stretch.

Not sure of the post code of course but i cant see at that size 80% would be too much of an issue with a few lenders subject to the normal sealed roads, power, water etc.

 

[Aaron_C]

10 acres is fine. It's when you get beyond 25 acres does it get tricky.

 

[Mick C]

As Richard mentioned, 80% is ok for 10acres...but it will come down to zoning, use, postcode, access to road etc...