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Interest rates on the Up.

midlandslad

Member
Location
Midlands
Back when interest rates were 15% land was £3k an acre, so a 25 year loan was £456/acre.
With rates at say 4% and land at £10k an acre the same loan is £636/acre.

Also, with the former the majority of the loan would be offset-able against tax, whereas with the latter you would need to pay your tax before paying most of the repayment.
 

Martyn

Member
Location
South west
We have today received a annual letter regarding OD renewal, are accounts are showing more profit than a number of years but bank want to increase their rate by 1% to 3.5% on top of base. Plus renewal charge gone up.
 

An Gof

Member
Location
Cornwall
We have today received a annual letter regarding OD renewal, are accounts are showing more profit than a number of years but bank want to increase their rate by 1% to 3.5% on top of base. Plus renewal charge gone up.

“bank want to”

I don’t think it’s negotiable I think they are just telling you what is going to happen. That’s how it seems to be with Barclays now 😡😡
 

Martyn

Member
Location
South west
“bank want to”

I don’t think it’s negotiable I think they are just telling you what is going to happen. That’s how it seems to be with Barclays now 😡😡
I can remember years ago doing deals with our bank manager that if we reached little targets he would adjust our interest rate etc, all history these days!
Glad it's not just NatWest who are like it!
 

Hjcarter

Member
Horticulture
Location
Leicestershire
Back when interest rates were 15% land was £3k an acre, so a 25 year loan was £456/acre.
With rates at say 4% and land at £10k an acre the same loan is £636/acre.

Also, with the former the majority of the loan would be offset-able against tax, whereas with the latter you would need to pay your tax before paying most of the repayment.
And how many money trees can you get to the acre..... ,!
 

How is your SFI 24 application progressing?

  • havn't been invited to apply

    Votes: 28 36.4%
  • have been invited to apply

    Votes: 13 16.9%
  • applied but not yet accepted

    Votes: 28 36.4%
  • agreement up and running

    Votes: 8 10.4%

Webinar: Expanded Sustainable Farming Incentive offer 2024 -26th Sept

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On Thursday 26th September, we’re holding a webinar for farmers to go through the guidance, actions and detail for the expanded Sustainable Farming Incentive (SFI) offer. This was planned for end of May, but had to be delayed due to the general election. We apologise about that.

Farming and Countryside Programme Director, Janet Hughes will be joined by policy leads working on SFI, and colleagues from the Rural Payment Agency and Catchment Sensitive Farming.

This webinar will be...
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