So the A.M.C was in existence in 1934

[Pilatus]

The attached pic is from this weeks Special Edition of the Farmers Weekly.
Did any of your ancestors buy the farm you now farm , great if you are
I admire your ancestors for borrowing money when I expect borrowing money was frowned upon by many farmers/ society in general.
Oh how times have changed.

 

[Still Farming]

Was it part of Nat West also later?

 

[upnortheast]

Was it part of Nat West also later?

Set up in 1928 by HM Gov, owned by BOE. Owned by Lloyds since 1993

Interesting the advert is for 60 year loans ?

I admire your ancestors for borrowing money when I expect borrowing money was frowned upon by many farmers/ society in general.

Our farm deeds list numerous mortgages in the mid1800`s when the lending appears to by individuals.

 

[rusty]

Was it part of Nat West also later?

I think it was owned by a consortium of the big banks

 

[Still Farming]

I think it was owned by a consortium of the big banks

I know back in 1994 they were simular to the high street banks but the default and get out clauses, early redemption and interest rates were eye watering.

 

[upnortheast]

I know back in 1994 they were simular to the high street banks but the default and get out clauses, early redemption and interest rates were eye watering.

Bought a farm with an AMC loan in 1995. Better terms than banks, & (as long as the repayments keep coming ) no annual reviews.
I would add
Buying a field last year & they didn`t seem interested, ( In spite of having an impecable track record with them ) Nat West could not have been more helpful.
Accountant was saying that was common situation over the last couple of years

 

[steveR]

I know back in 1994 they were simular to the high street banks but the default and get out clauses, early redemption and interest rates were eye watering.

Sooooo true.

I finally cracked when my AMC loan was down to a few £K and used a good year to pay them off, as I had just about had enough of them!

 

[steveR]

Bought a farm with an AMC loan in 1995. Better terms than banks, & (as long as the repayments keep coming ) no annual reviews.

I would say "different terms". The lack of Reviews was nice, but these days Barclays don't bother either

I used to send them Annual accounts, but haven't bothered for 5-6 years at least! Just keep the repayments going out...