We consider linear boundary value problems for higher-order parameter-elliptic equations, where the boundary data do not belong to the classical trace spaces. We employ a class of Sobolev spaces of mixed smoothness that admits a generalized boundary trace with values in Besov spaces of negative order. We prove unique solvability for rough boundary data in the half-space and in sufficiently smooth domains. As an application, we show that the operator related to the linearized Cahn–Hilliard equation with dynamic boundary conditions generates a holomorphic semigroup in Lp(R+n)×Lp(Rn−1).