AMC and Bell Ingram: Straightforward agents for straightforward finance

The Agricultural Mortgage Corporation (AMC) has been working with farmers for more than 90 years and is still supporting business, both new and existing customers, through the Covid-19 crisis. As a bank, AMC is an essential service, very much still open for business – and one that may never have been more essential to our countryside.

With the bank base rate now down to 0.1%, the lowest ever in UK history, it is well worth taking an hour or so to review your financial arrangements.

AMC offer long term loans from five years to 30 years, on sums from £25,001 and upwards, and with the impact of the virus likely to be with us for a “wee while yet” as they say here in Scotland, every business will need to look at all its costs.

Refinancing existing borrowing, including considering fixed rate and interest only options, is only to be recommended. Even if you generally aren’t a borrower, it may be that these unprecedented times will mean that you need to look at a loan to help keep things going in 2020 and beyond. This is especially so for any diversified farming or rural business whose world is turned on its head at the moment.

AMC are able to review options and it may be that, subject to every individual circumstance, you really can get through this crisis, while at the same time setting up a good base for future borrowing with controlled costs.

AMC loans can be transferred between generations, which is often a key point for farming families with the next generation already coming along.

As agents we are used to reviewing all aspects of a business, we understand the cashflow through a farming year and can see behind the accounts to see the strengths of your enterprise.

Different combinations of business streams are also nothing new – we have clients with complex finances, but one of our skills is to work with you to get a really clear picture since we are the ones presenting it to the bankers for, hopefully, approval. We liaise with your other regular professional advisers both during and after the application process, before carrying out a valuation of the security property once the loan is confirmed and you are happy with the terms.

AMC have a strapline: straightforward finance for farmers and we like to think the Bell Ingram team are the straightforward agents to help you make the most of this.

If you would like to discuss AMC finance in confidence, call me Sarah Tyson on 07710308614 or email sarah.tyson@bellingram.co.uk and either I or one of our team will be delighted to help you.

All AMC loans are subject to status. Ts&Cs apply.

 

Sarah Tyson

Partner
Rural Land Management
Perth
Tel: 07710 308614 (mob) 01738 621 121

Article posted on 15/04/2020

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