Key Time to Invest in the Wake of Brexit
Put your money where your mouth is and Invest to move your business forward.
You may have heard “get your business Brexit ready” more times than you dare think about. Whether you are looking to buy some land, carry out some building improvements or refinance any existing debts, now might be the time to do it. With base rates at 0.75% and fixed-rate money at a low, there may be no time like the present to borrow some money, says Jonathan Hird, Chartered Surveyor for H&H Land & Estates.
The Agricultural Mortgage Corporation (AMC) has supported the farming sector for more than 90 years and is committed, now more than ever, to see the agricultural sector thrive.
When borrowing through AMC, you can fix for the full length of the term from 5 years up to a term of 30 years. AMC is committed to you for the length of that term, with no risk of changes to your loan facility, unless you wish to.
The loan can also be prepared to suit your needs, whether you start the loan on an interest only basis, allowing your business to become established with reduced loan payments and moving onto a capital repayment loan thereafter. You can also have part of the loan on a fixed rate and part on a variable rate loan, providing a loan facility tailored to your business needs.
Jonathan is keen to add that setting up a loan can be a daunting experience and is something which should not be rushed into:
“A key factor that lenders consider is to assess the cash generation of your business. The ability to service the loan after debt is a priority and the lender needs the confidence that the business will be able to manage the loan. Therefore, going through the loan application process should provide peace of mind that the loan facility that has been set up is able to be comfortably managed by the farming business.”
H&H Land & Estates has a team of specialist advisors, based across 9 offices, able to advise on this and many other rural matters. Jonathan is the contact for AMC and is keen to see farmers investing in their enterprises and allowing their business to move forward. If you wish to discuss borrowing through AMC further, please contact the Carlisle office on 01228 406260 and speak to either Tim Parsons or Jonathan Hird.