Assisting Farmers Throughout North Yorkshire
George F White are helping farmers throughout North Yorkshire source funding through the Agricultural Mortgage Corporation. Kevin Guy, Partner at George F White is part of the AMC Team and is assisting many farmers and rural businesses source funding for a variety of uses; these uses varying from the purchase of land, purchase of equipment to the restructuring of debt and farm diversification projects.
The AMC still offer long term interest only loans which is something other lenders cannot do and is one of their ‘unique selling points’; alongside deals of this nature, flexible short term loan arrangements are also available.
During the last 12 month period, the cost of funds to lending institutions has fallen which reflects a surprising lack of demand within the economy as a whole. However, lending to the agricultural sector has increased during the last 3 year period; land prices continue to rise and many are taking advantage of the opportunity to fix into rates over a long period. Whilst a long term fixed rate does not suit all, the ability to lock into a rate of 6% over 25 years proves very attractive to those who are investing in the business as part of a long term strategy.
The reality is that the AMC can offer a loan which has no ongoing costs and once the monies are drawn down, the ‘lend and leave’ approach of the AMC proves very attractive to some.
We manage the process from start to finish and would encourage anyone who is looking to source finance to contact us to discuss their requirements. Due to the ongoing pressures throughout the wider economy, there is increasing pressure being placed upon the margins and our advice would be to review your arrangements as soon as possible to take advantage of the relatively low interest rates at the present time.
The George F White AMC Team sourced over £20 million of funds during the last 12 months which has enabled both new and existing clients to develop and progress their business into the future.
If you would like further guidance on the procedures and the most efficient way to ensure quick determination on your application, please speak to us for a no obligation initial appraisal.