Arc & Co. Secures Agricultural Mortgage for Land Purchase


Jamie Rigby
Financial Consultant
Arc & Co.   

T: +44 (0) 1295 793 1701

Client:  Well-respected and successful farming enterprise 

Requirement:  The client approached their long-term agricultural lender to help purchase a neighbouring farm, they needed a quick approval in order to beat competing bidders. Unfortunately, after weeks of deliberation and with only three working days until bidding deadline, the bank informed their loyal client that they would not be able to assist. 

Solution:  Jamie Rigby, Financial Consultant at Arc & Co., was asked to step in and find an alternative within the short time frame. “I met with the clients over the weekend, and quickly established that their business was a sound one with strong financials”, Jamie explains. “The rationale for the purchase was good, and to me made complete sense. With only a few days grace, I knew I had to act quickly to give my client the best chance of a successful bid”. The following Monday, Jamie spoke with alternative lenders and quickly arranged a credit-backed 5-year loan with a reputable challenger bank, allowing the client to be in the strongest position possible to bid on the new farm.

“With a credit-backed bid, the client’s bid was accepted and we completed the purchase a few weeks later. What was equally gratifying”, Jamie says, “is that we managed to improve upon the rate suggested by the client’s long-term lender”. Jamie secured his client with a £2m agricultural loan on an Interest Only basis for a period of 5 years, at a margin of 2% over Bank of England Base Rate.