I currently have no borrowing but could do with raising some money to carry out improvements to the land/buildings and house, good salary coming in from full time employment and decent income from the diversified farm business.
The last bank I had a mortgage with need a business plan before they will consider it, the amount I'm after isn't a huge amount and it doesn't really lend itself to a business plan as there will be no immediate return in income, however it will make our lives easier and bolster existing income streams.
Does the AMC require a business plan or will they lend on asset value and proof of income / affordability? Any experiences the collective can share of their dealings good or bad?
The last bank I had a mortgage with need a business plan before they will consider it, the amount I'm after isn't a huge amount and it doesn't really lend itself to a business plan as there will be no immediate return in income, however it will make our lives easier and bolster existing income streams.
Does the AMC require a business plan or will they lend on asset value and proof of income / affordability? Any experiences the collective can share of their dealings good or bad?