Farm Loans and Equity release for older farmers

A farm loan is offered to you to cover the financial requirements regarding the farm. You can apply for a loan of £10,000 to £150,000. These loans are flexible and a borrower can easily manage his/her day to day financial requirements by using Farm loan. Some lenders offer tax-deductible interest rates for farm loans. You can also go for mechanization like purchasing a tractor, lawn mover, farm improvement or purchase of feed or hay for your livestock.

As for running a farm, you require up to date equipment and tools. These things can be bought by using farm loans. Farm loans can provide you with financing for 7 to 10 years for making improvements in your farm. You can use these funds for buying brand new equipment as well as second-hand machinery and equipment.

Fixed Rates

Farmers can apply for these loans on fixed loan rates. These farm loans with fixed rates are from 1 year to 10 years. You can make payments in small instalments by spreading your repayment time to longer periods of time.

Variable Rates

Farm Loans available at variable rates can be used for buying equipment or to cover any building requirements. The interest rate shifts according to the rates in the market. The rate can change on a monthly basis. The loan of variable rates can be repaid in 7 to 10 years.

Prime Rates

Farm loans which are based on a specific margin to the prime rate, the interest rates change as there are any changes in Prime rates. These loans have a margin lock of 1 to 3 years. These loans are available for 7 to 10 year period.

LIBOR Rates

LIBOR stands for London Inter-Bank Offered Rate. If you want to go for a low-interest rate farm loan, you can opt for a farm loan with LIBOR rates.

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