UKAF provides £800,000 bridging loan for farm refurb

UK Agricultural Finance has provided an £800,000 bridging loan to refurbish a client’s new farm.

The borrower – who has an award-winning and long track record of breeding horses – was relocating to a new farm and required capital to refurbish their farmhouse, undertake home improvements, refurbish a rental cottage and prepare the paddocks ready to move across their horses.

The borrower had previously contacted two high street lenders, but they were unable to provide the necessary finance in the timeframe required.

As a result of this, the borrower approached UK Agricultural Finance, which has experience of providing development funding to the rural community.

Sarah Beard, senior underwriter at UK Agricultural Finance, said: “Working within a specialist agricultural underwriting team that prides itself on face-to-face underwriting allows us the time to meet farmers and understand the nuances of the particular opportunity to provide responsible, informed underwriting decisions.  

“In this case, we were able to provide the facility letter within a week.”

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