How do I get a mortgage to start a farm?
Can I take out a traditional mortgage on a farm?
Whilst it’s not impossible to take out a traditional loan on a farm, you may find it more difficult to find favourable backing by lenders. This is simply because many traditional mortgage lenders are unfamiliar with the farming market, so would rather not take the risk of the owner walking away or failing to pay. You are much better off seeking an agricultural mortgage when looking to purchase a farm.
What are the benefits of an agricultural mortgage?
Agricultural mortgage lenders take the market into account – for example, seasonality – and understand that cash flow for farms is unlikely to always be consistent. Our agricultural mortgages are available between £25,001 - £10,000,000, with competitive monthly repayments up to a period of 20 years.
What can be covered by an agricultural mortgage?
Whilst agricultural mortgages are most often associated with the purchasing of farms, they can also be secured against a number of other property types, for example:
• Barn conversions
• Farmland purchases / remortgaging
• Equestrian businesses
• Green renewable energy sites
Our specialist finance brokers can source the best agricultural mortgage lender for you with favourable repayment terms. Even if you have been declined in the past, we may still be able to help you find the financial support you need.
Contact us today on 01202 937880 to discuss your agricultural mortgage requirements with one of our finance experts.