- Location
- Northumberland
On those figures £7,500,000 at 2.6% is £195,000 interest before paying anything back.
If it didnt need anything spending on it, and was set up for 700 cows **havent looked at set up, just see its 700 acres ** then you could with a good wind behind you and NO other borrowing make that work, but youd proably want a 30 year term to keep capital te payments low, because a bad year will be squeaky bum timeOn those figures £7,500,000 at 2.6% is £195,000 interest before paying anything back.
If it didnt need anything spending on it, and was set up for 700 cows **havent looked at set up, just see its 700 acres ** then you could with a good wind behind you and NO other borrowing make that work, but youd proably want a 30 year term to keep capital te payments low, because a bad year will be squeaky bum time
Always gets easier with time.About 350k/year at 2.6% and over 30 years. £500/cow. Might just be doable if you’re a top operator and can live off nothing. Would probably get easier over time with a bit of inflation. The bank would want you to have 40% equity any way so that would bring the payments down massively.
Discussed it with the wife earlier, she didn’t say no. Need a clear Tb test it two....Or go intrest only
Always gets easier with time.
Interest only is fine if your planning on cashing it inOr go intrest only
Always gets easier with time.
So if you had 40% of the price why would you need the hassle or bother in buying the place theres far easier ways to make moneyAbout 350k/year at 2.6% and over 30 years. £500/cow. Might just be doable if you’re a top operator and can live off nothing. Would probably get easier over time with a bit of inflation. The bank would want you to have 40% equity any way so that would bring the payments down massively.
Deffinatly. Or gamble that 20 years time 200 acres would clear the debt. If anyone had gone mental 20 years ago, be easy to clear it up nowInterest only is fine if your planning on cashing it in
Some people are turning a pretty penny in this job. Far easier ways im sure about, better ways i dunno.So if you had 40% of the price why would you need the hassle or bother in buying the place theres far easier ways to make money
Dairy farming is very risky to be in high debth if youre already well off you have the risk of milk price collapse animal disease outbreaks and bad weather ive seen many farms go bust that had high debts when milk price collapsed and weather was against themSome people are turning a pretty penny in this job. Far easier ways im sure about, better ways i dunno.
Whilst making repayments? Busy man, but guess there will be 5 females running the place.Looks dreamy, rainfall under a meter.
Block calve it and it's a one man unit most of the year.
That's some man you're talking about.Looks dreamy, rainfall under a meter.
Block calve it and it's a one man unit most of the year.
Easy to say that, but in 20 yrs might be a different story if the business is showing strong growth.Deffinatly. Or gamble that 20 years time 200 acres would clear the debt. If anyone had gone mental 20 years ago, be easy to clear it up now
Or go intrest only
Always gets easier with time.
How many cows has the huge dairy ,cut into the hillside at dundrennan ,? If you know where i mean ,Be about 20 miles north,
No idea what the arable side would contribute income wise but facilities for a 360 herd and parlours only 32/32. A lot of money to step up from a day 200 cow herd.If it didnt need anything spending on it, and was set up for 700 cows **havent looked at set up, just see its 700 acres ** then you could with a good wind behind you and NO other borrowing make that work, but youd proably want a 30 year term to keep capital te payments low, because a bad year will be squeaky bum time
For that reason, also 7.5 million other reasons, im outNo idea what the arable side would contribute income wise but facilities for a 360 herd and parlours only 32/32. A lot of money to step up from a day 200 cow herd.