First time mortgage advice

My brother and I are looking to branch out and expand our existing farm business by buying another small holding with help from the family. Looking to keep LTV ratio below 60%. The initial rate I have been offered is around 3% above base with a 1.5% set up fee from AMC does this sound reasonable, mortgage to be secured against property and loan of around £500,000. Any further advice greatly appreciated as I have never dealt with any borrowings in my life.
 

S J H

Member
Livestock Farmer
Location
Bedfordshire
I think that's what I was offered with amc, this week it would have been around 4.5% fixed for 20 years. People will be on here saying that's ridiculous, but the piece of mind is worth it for me.

Amc were a very good firm to deal with on the whole. But I think a lot is down to the agent.
 
I think that's what I was offered with amc, this week it would have been around 4.5% fixed for 20 years. People will be on here saying that's ridiculous, but the piece of mind is worth it for me.
If some people think that 4.5% on a 20 year fixed is ridiculous, I'm wondering what is the market rate for fixed rate loans on secured agricultural land / property these days?
 

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Red Tractor drops launch of green farming scheme amid anger from farmers

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As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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