AMC - Robinson & Hall

DOWNTOEARTH

STR AIGHTFORWARD FINANCE FOR FARMS AND RUR AL BUSINES SES

ISSUE 16 WINTER 2015

In this issue:

Robotic dairy farm adopts new farm policies

Improving earning potential and asset value

Putting a Scottish dairy farm on the map

Support enables egg farm to expand

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Investment in UK agriculture continues at pace Jonathan Allright, Head of the Agricultural Mortgage Corporation PLC, highlights another busy lending year with examples of AMC customers who have used low interest rate loans to invest in new income streams, reduce production costs and become vertically integrated to maximise their profitability. Once again, AMC is on track to approve a record amount of lending to UK agricultural business, with over £500m of loans being agreed so far in 2015. Despite poor ex-farm prices and volatile commodity prices, lending to the arable, dairy, beef, sheep and poultry sectors has remained buoyant, with AMC loans split equally between land purchases, capital investment projects and restructuring existing bank finances. Loans for investment into renewable energy solutions and the provision of working capital have also formed a prominent part of AMC’s portfolio, as has support of diversified farm enterprises and landed estates. This busy lending period coincides with continued low interest rates; for the past four years we have resolutely predicted, in parallel with the Governor of the Bank of England’s predictions, that interest rates would begin to rise within 12 months. So far this prediction has proven to be wrong, with interest rates remaining low. In fact, economists are once again predicting that any significant rise in base interest rates is still 12 months away, with some predicting little movement until the beginning of 2017 at the earliest. Only time will tell how accurate this latest prediction turns out to be, but in the meantime, farm businesses still have the opportunity to take advantage of long-term loans at low interest rates – at the time of writing AMC can offer 30 year fixed rate loans at less than 5%*.

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At a time when income on many farms is not covering the costs of production, all business managers and decision makers should give careful consideration to the structure of their farm’s borrowings. They should also reassess where investment in farm infrastructure could result in reduced costs of production or how investing to add value to the farm’s outputs could improve profitability. For businesses where short-term, high interest rate HP loans and expensive overdraft facilities are constraining cash flow, the best course of action will be to review and restructure the farm’s existing debts over a more manageable term with an AMC long-term loan. Whatever your farm’s status, with interest rates still at low levels, you should consider fixing a proportion of your debt in order to hedge future interest rate rises out of your business. As ever though, it is important to take professional financial advice from your accountant or independent financial adviser before committing to a binding loan agreement. Speak to your local AMC Agent or AMC Regional Agricultural Manager to carry out a review of your banking arrangements and to see if we can unlock a more efficient way of financing your business. In this edition of Down to Earth we visit four AMC customers who have done just that. With our support they have invested in their farm businesses to reduce production costs or to increase their productivity.

Sussex based egg producers Mark and Sam Beckett explain why they have put plans on hold to expand production by building a new laying shed in favour of vertically integrating by rearing their own pullets. While Tom Coleman discusses his rationale for building a new grain store on his Hampshire arable farm and how the conversion of old dairy buildings into commercial offices has successfully diversified his farm’s income. Meanwhile, Alan Perrett explains how robotic milking facilities, a switch to zero grazing and the introduction of a slurry separator have enabled him to reduce the cost of production on his Dorset dairy farm, and how solar PV panels have enabled him to reduce his farm’s energy bill and earn an additional income through a land rental agreement. Finally, Kate Rodger describes the motivation behind her family’s decision to create a premium brand of farm-processed dairy products, many of which are successfully being distributed to high-end hotels and Michelin starred restaurants throughout Scotland. We understand that all four of these businesses will go through periods of peaks and troughs and that unstable commodity prices will put their businesses under pressure from time to time. But we have supported British agriculture through good times and bad in the past and continue to do so now. All four customers have taken advantage of AMC’s low interest rates and farm friendly loans, and with our support, have moved forwards by investing in changes which will bring long-term stability to their businesses. *There is always a possibility that interest rates may go down leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same rate.

We can help For more information please call our New Business Team on: 01264 334747

Planning for uncertainty The low prices currently being paid for almost all ex-farm commodities and with no obvious improvement in prices in sight have made it more important than ever to plan for what the next year may bring. Proper planning, both strategically and financially, will help you to maximise the cash flow on the farm, and inform any strategic business decisions you may decide to take. Planning for any predicted, or indeed unforeseen, cash flow emergencies, can also reduce the burden associated with economic uncertainty and allow you to focus more clearly on improving the day-to-day efficiencies of running your farm. Talking to AMC, either directly or through an appointed AMC Agent, could shed new light on alternative ways of easing your farm’s finances. Our Regional Agricultural Managers, Agents and New Business Team all understand the cyclical nature of farming and can help you to plan ahead and assist with the most appropriate way of smoothing the ups and downs associated with agricultural incomes. One obvious solution to ongoing financial worries might be to extend an existing overdraft or loan facility. However, this may not be the most advisable or affordable course of action for your business to take, and certainly is not the right option if the ensuing repayments are likely to exacerbate future financial worries. Instead it is well worth taking the time to think about your long-term loan and short-term trading needs and to talk to one of our experts to discuss an alternative, more appropriate approach. AMC’s five year Flexible Facility is a more affordable and user-friendly way of easing cash flow worries. Once in place, funds can be drawn down from the Flexible Facility as and when needed, and can be repaid at a tailored level to suit your business. And with a 0.5% annual fee and no annual reviews the Flexible Facility* offers a guaranteed source of working capital.

In addition to ensuring your business has the most appropriate short-term financial structure in place, it is also advisable to carry out a full and detailed appraisal of your farm’s long-term loans. You may find that you are paying over the odds on loans carrying high interest rates, or you might be paying funds back too quickly causing cash flow pressures. Similarly, multiple HP agreements might be tying up too much money and therefore constraining what you can do on the farm. You could consider restructuring some or all of these into a long-term, fixed-rate** AMC loan, which could save on interest rates and enable the money saved to be put to better, more profitable uses. Re-appraising your company’s finances should be complemented by a review of the way you manage the farm’s risks. Undertaking thorough cash flow forecasts at a variety of commodity price levels will help you to plan for difficult situations. If carried out on a regular basis, these re-appraisals will also determine if forward selling is appropriate. Whilst it is not always possible to make 100% accurate market predictions, forward selling a share of the commodities produced on your farm makes sense if it allows your business to operate from a guaranteed profit base. Similarly, forward purchasing inputs such as feed or fertiliser can also help to mitigate market fluctuations and provide a firm standing from which future farming activities can be launched.

Simon Eales, Senior Sales & Agricultural Manager

Whatever your farm’s current situation, it is always healthy to plan ahead and to be prepared for every eventuality. Speaking to AMC sooner rather than later makes good business sense as it will allow you to have the necessary finance in place ahead of any potential problems or indeed gives you the opportunity to expand your business to take advantage of the current market situation. *AMC loans available for business purposes only, provided on a secured loan basis. Minimum AMC standard loan £25,001, minimum Flexible Facility £30,000. To meet customer requirements, lending criteria will vary. Lending is subject to status. **There is always a possibility that interest rates may go down leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same rate.

The AMC team will be at LAMMA in Hall 7 on stand 7123. Come and ask us about how we could help your business.

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He uses a zero-grazing system to provide fresh grass to the cows during the summer to reduce the herd’s feed bill and has reduced silage contracting costs by an estimated 30-40% by investing in his own grass forage wagon.

Part of Alan Perrett’s business strategy is to safeguard the farm from rising input costs including water and electricity charges.

23 acres of land is leased out as a solar park, giving the farm a diversified income stream.

Robotic dairy farm adopts new farming policies Over the last 10 years, Alan Perrett has reassessed every aspect of his dairy farm and made some significant changes to the way he manages his herd and grassland. Converting to robotic milking, adopting a zero-grazing policy, installing a slurry separator and leasing out 23 acres of land for photovoltaic (PV) energy production have, amongst other changes, all helped to mitigate the effects of rising input costs and falling milk prices. Alan and his father, Andrew, manage a herd of 140 dairy cows at Park Farm in Iwerne Courtney, Dorset. Eight years ago they moved away from a conventional milking parlour with cows housed on straw yards to a cubicle based system with cows milked by two robots. “Like many family farms, we wanted to reduce our reliance on external labour,” Alan explains. “We also wanted to increase the herd’s productivity and realised that moving to an automated milking system was the best way for us

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to achieve three times a day milking. We took out an AMC loan and converted the farm to a robotic system.” The switch had the desired effect with the herd soon achieving an average of 3.1 milkings per day and milk yields increasing from 6,500 litres per lactation to an average of 10,500 litres. Not everything has been plain sailing though and the continuing round of milk price reductions has forced the Perretts to reassess their finances.

“When the robots were installed we based our budgets on a milk price of 18.3 pence per litre. Since then, input costs have risen dramatically, and we have seen a third cut off our milk price in the last 12 months. We are still on target to stay ahead of our original budget but we were starting to feel the pinch because we were paying back our original AMC loan too quickly. Therefore we spoke to AMC and restructured our outstanding loans to extend the borrowing period and reduce our monthly repayments. AMC understood our predicament and were happy to help. Their willingness to cooperate really helped to ease the farm’s cash flow and has enabled us to invest in other farm improvements.” Alan’s farming philosophy is based on the principal of maintaining an eye for the finer details of cow and grassland management. As well as focusing on cow health, welfare, nutrition and hygiene to maximise productivity, he also takes a wider view of how best to use the farm’s land assets and nutrients.


“The robots have helped to improve the herd’s productivity but we have reached a point where we cannot increase our earnings by just producing more milk. So we have looked at new ways of improving efficiencies and increasing the farm’s total income.” Part of Alan’s strategy has been to safeguard the farm from rising input costs including water and electricity charges. “We have already installed two boreholes to protect the farm from rising mains water costs and in 2013 installed 50kW of solar panels on one of the farm’s sheds to reduce our reliance on purchased electricity. The electricity generated by the solar panels can then be used to run the farm’s robots and also the slurry separator.”

“In an ideal world we would still be farming that land, but the dairy sector is far from ideal and needs must. We do graze some sheep under the panels so we’re still getting the best of both worlds to a certain extent.” Alan also works on a part-time basis for Lely – the manufacturers of his farm’s robots – helping other farmers to train their cows to use robots. “It is rewarding work which gives me the opportunity to earn a little bit extra. It also lets me learn from other people’s good ideas and best practices, which I can then apply to my own farming methods.” As well as looking for new income streams, Alan has also changed some of his core farming methods.

Alan has also invested in a slurry separator to reduce the farm’s fertiliser bill. “The farm was recently classified as being in a Nitrate Vulnerable Zone so we knew we had to do something to improve our slurry management,” he describes. “We decided to invest in a separator to enable us to make the most of the farm’s own nutrients and have introduced red clover to the grass swards to fix more nitrogen. Two years ago our fertiliser bill was almost £15,000. Last year we reduced it to £8,000 and this year we have not purchased any fertiliser. “We test the soils regularly to make sure we are not impoverishing their nutrient value and are still experimenting to see how far we can push our own self-sufficiency. If we have to purchase fertiliser in the next year or two we will, but at the moment it is very satisfying to be able to make such a significant saving. It is just one part of our bigger solution to coping with difficult market conditions.” AMC loans available for business purposes only, provided on a secured loan basis. Minimum AMC standard loan £25,001, minimum Flexible Facility £30,000. To meet customer requirements, lending criteria will vary. Lending is subject to status.

Meanwhile, a 23-acre block of land has been leased out on a 26-year deal as a solar PV park, with the deal going ahead prior to the Government’s recent announcement of a review of the Feed-in Tariff Scheme. “Coping with market volatility is not easy for any business,” Alan continues. “We knew we had to do something to improve our profitability forecasts and look beyond the cows to find new sources of income. “Those 23 acres are our most profitable at the moment,” he claims. “We employed a land agent to negotiate the best possible rental terms and now earn a guaranteed, index-linked income. We do not own the solar panels and cannot use the electricity they produce, but we benefit from quarterly cash injections that boost the farm’s accounts.

Zero-grazing has helped to reduce production costs at Park Farm.

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Commercial lets and livery stables put farm assets to maximum use

With land prices near their Hampshire based farm recently reaching in excess of £15,000 per acre, Tom and Alison Coleman have been reluctant to invest in the expansion of their existing arable farming interests through the purchase of more land. Instead they have focused on improving the asset value and earning potential of the land and buildings they already own by building a new grain store and expanding an existing complex of commercial lets.

included cubicle sheds and a Dutch barn, have been re-developed into a variety of commercial storage units, offices and a livery yard. “The buildings have provided a valuable revenue stream to the farming business, but we recognised that there was more we could do to increase their rental potential,” Tom adds. “We are therefore in the process of building an American Barn-style stable block which will ring-fence the livery yard away from the other commercial lets to comply with a number of health and safety requirements.”

The construction of the new grain store has been funded using a 15-year variable rate loan from AMC. “We first approached AMC on the basis that they had a reputation for understanding farming businesses such as ours,” Tom describes. “It is the first time we have worked with AMC and in our experience that reputation has certainly proven to be true; it has been a very straightforward relationship, with no interference from them since the loan was approved.” “We drew down the first part of the loan to build the grain store, and made a subsequent withdrawal to part-fund the stable block. We will use the remainder of the loan to demolish the old stables and construct the replacement commercial property. All along AMC has been happy to let us get on with running the business as we see fit. They have been exceptionally easy and helpful to deal with.” Tom is confident that the improvements he’s made to the farm’s infrastructure will make the business better equipped to deal with the arable sector’s unpredictable nature. “We have tried to be as forward-thinking as possible and hope to use any surplus that the contract farming arm of the business might make for early repayments against the AMC loan.

The American Barn-style stables have been part-funded by the farm’s AMC loan. The new stable block will enable the existing livery facilities to be demolished, making way for a purpose-built office and storage facility which has already been leased on a five year basis to one of the Coleman’s existing tenants.

“We have extended that same philosophy to the way we have developed the commercial properties by designing the new stables in such a way that if the livery yard struggles at any point in the future we can quite easily convert the building into offices or commercial storage. Similarly, we built the new grain store to a standard that allows it to be upgraded to a full-time grain facility should the need ever arise. It is all part of our master plan of future-proofing the farm for any eventuality.”

“Our view is that it is easier to work with existing tenants than it is to find new occupants,” Tom continues. “For that reason we have worked with the tenant concerned to ensure that the new building meets their specific needs. The theory is that they will remain on site much longer if the infrastructure we provide is tailor made to their needs. It is a win-win situation.” Planning permission for the new structure was granted in September 2015, with the building works scheduled to be completed by July 2016. In addition to the commercial properties and livery facilities, the Colemans have also built a new grain store to replace the ex-dairy unit’s Dutch barn. Tom Coleman farms a total arable area of 2,350 acres in Hampshire.

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Lower Norton Farm at Sutton Scotney near Winchester consists of 530 acres of arable land, with an additional 1,820 acres farmed on a contract basis. The main rotation is oilseed rape and winter beans, followed by winter wheat and spring malting barley which is grown for the continental lager export market.

domestic contracts,” Tom Coleman explains. “Even so, with arable farming currently going through a particularly tricky period, we have looked for other ways to make the farm more profitable and to diversify the farm’s income potential by adding value to our existing asset base.”

“Targeting the barley export market and Group 2 wheat market gives us the potential to earn a small premium over standard

Lower Norton was purchased by the Colemans in the late 1980s. Since then, the farm’s ex-dairy buildings, which

We can help For a full list of AMC agents across the UK phone 01264 334747

The 450m2 grain-tipping facility, which has the capacity to hold 1,000 tonnes, was completed in January 2015 and has already proved its worth by making the logistics of grain-handling during the summer’s busy harvest season much easier to manage. “We used our agricultural permitted development rights to build the new store on a Greenfield site which is central to the farm’s arable operations,” Tom continues. “It provides a safer store for crops at harvest time and, in the winter, is used as secure storage for the farm’s arable machinery. It has made harvesting crops more efficient and also means we can start to consider alternative ways to make the Dutch barn more profitable.”

The new stable block will free up additional commercial letting space. AMC loans available for business purposes only, provided on a secured loan basis. Minimum AMC standard loan £25,001, minimum Flexible Facility £30,000. To meet customer requirements, lending criteria will vary. Lending is subject to status.

www.amconline.co.uk

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wanted to target a more sophisticated, grown-up market. “It was the yogurt which really took off first, finding a gap in the market as there did not seem to be any other premium Scottish yogurt producers.” A year after making their first batch of yogurt, the ‘Katy Rodgers’ brand won its first accolade at the Scotland Food and Drink Excellence Awards. “We have since won a number of other awards, but it was that first breakthrough that made the real difference. Until then our brand was relatively unknown, but overnight the phone started ringing with enquiries from some major supermarkets who wanted to stock our produce.

Katy Rodger uses the farm’s own milk in a premium range of branded dairy products.

Award-winning dairy produce bolsters Scottish family farm

For Robert and Katy Rodger of Knockraich Farm near Fintry in central Scotland, converting an old calf barn into a busy coffee shop and diversifying into ice cream, yogurt and cheese production has helped to keep their family’s small dairy farm on the map. Knockraich Farm has been owned by the Rodger family since the 1950s and has just won the Silver Award for Family Farming Business of the Year 2015 in the British Farming Awards. Today the 80-acre farm is home to 60 Friesians, which, for the last six months, have been milked robotically. The dairy cows and young stock are managed by Robert Rodger, but the wider diversified business – which includes the ‘Courtyard Café’, a soft furnishing showroom, wedding venue and a milk processing dairy – is very much a family affair. “Keeping the cows in the fields and maintaining the farm for future

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generations is the biggest inspiration for us as dairy farmers,” Robert Rodger explains. “Unfortunately, falling milk prices had meant that our small dairy herd was under threat. We have therefore created a range of diversified ventures to increase the overall functionality and profitability of the farm. As part of this, our range of value-added dairy products is made exclusively from our own cows’ milk for which the farm is paid higher than the market value.” Nine years ago, Katy, Robert’s wife, opened a farm shop and café in a converted calf barn. She also runs a

soft furnishings business from the farm; the two businesses working hand in hand to attract paying customers through the farm gate. The café is now managed by Catherine, one of the couple’s two daughters, with her sister, Helena, overseeing all the farm’s non-agricultural ventures. Their brother, Ian, a local farm vet, is also involved in the diversified business, having planted an apple orchard five years ago to make better use of a two acre plot which is also used as the café’s kitchen garden. Katy’s time is now split between the soft furnishings business and the farm’s dairy processing venture. “We started producing ice cream in 2011 in an attempt to add value to the herd’s milk,” she explains. “It was a difficult market to break into though. So, we reassessed our strategy and started making other dairy products as well. Rather than focusing solely on producing ice cream for children, we


“We currently sell the Katy Rodgers brand through Waitrose Scotland and are in negotiations to expand into a retail chain in the North of England in the near future.” Having also supplied Aldi for 18 months and producing yogurt under the supermarket’s own brand, Katy is now concentrating more and more on the hotel, restaurant and food service sector. “The majority of our supply is now distributed to Scotland’s high-end hotels and Michelin star restaurants,” Katy adds. Despite the brand’s success, the family’s foray into food production has not cost the earth. “We started on a very small scale using an assortment of second hand equipment which is operated on a shift basis,” Katy continues. “I work the early shift,

starting at 2:45am, before handing over to the day shift and moving across to the soft furnishings business for the rest of the day. It is a lot of hard work, but ultimately very satisfying.” The dairy processing enterprise is now housed in a self-contained, purpose-built facility, which has been funded using a long-term AMC loan. “We took our first AMC loan out in 2009 to get the café up and running and have subsequently extended our borrowings to enable us to invest in the dairy processing plant,” Katy describes. “AMC understood from the very outset what we were trying to achieve and have been exceptionally easy to work with.” The traditional dairy farming enterprise is also financed by an AMC loan – albeit by an entirely separate facility as the two sides of the Rodger’s business are managed as distinct units. “We took out an AMC loan eight years ago to build a new calf and tool shed after the farm’s original calf housing was converted into the coffee shop,” Robert explains.

Robert Rodger (top right) with his seven grandchildren and son Ian at the official commissioning of one of the farm’s robots. “AMC were easier to deal with than a number of their competitors and offered good rates of interest. Their no-nonsense approach enabled us to build the new calf shed and get the coffee shop up and running as quickly as possible. That attitude is worth a lot, especially in the current economic climate.” With the farm’s own ice cream, cheese, yogurt, crème fraiche and butter all being sold through the farm’s café and to some of Scotland’s best hotels and restaurants, the Rodgers have developed a strong and profitable brand. “We are still only processing a small amount of the herd’s milk, but I would like to think we will one day be processing the majority, if not all of the milk we produce. That is the best strategy we have got when it comes to dealing with falling milk prices,” Robert concludes. For more information about the Rodger’s diversified business visit www.knockraich.com

The Katy Rodgers brand has brought a new income stream to the small family farm.

AMC loans available for business purposes only, provided on a secured loan basis. Minimum AMC standard loan £25,001, minimum flexible facility £30,000. To meet customer requirements, lending criteria will vary. Lending is subject to status.

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“When the new EU legislation was announced we knew we needed to invest heavily to make our facilities compliant,” Mark Beckett explains. “AMC really came into their own at that time. We had already borrowed from them to expand the business but needed extra funds to upgrade the farm. Thankfully they understood our predicament and wholeheartedly supported us.” Mark approached a number of other banks to compare interest rates and terms but found that AMC’s offer was the most attractive to his business. “The other banks either wanted to impose too many covenants and restrictions, or would only make stage payments which would have made it difficult when tendering for the conversion work to be carried out.

Sam (left) and Mark Beckett produce 250,000 eggs per day from their Horsham-based business.

“AMC on the other hand could not have been more accommodating. They understood that, like many agricultural businesses, cash flows may vary significantly from year to year. They appreciate the cyclical nature of farming and could see that our long-term business plan was robust enough for them to release the necessary funds. They have supported us through thick and thin without imposing too many restrictions or controls and are happy to let us get on with running our business.”

Banking support enables egg farm to expand Father and son duo, Mark and Sam Beckett, produce 250,000 eggs per day from their Kinswood Eggs business at Horsham in Sussex. With AMC’s continuing financial support the company has successfully converted from a battery cage system to enriched colonies. And with planning permission in place for additional capacity and a new pullet-rearing shed being constructed, the family-run business is adopting a policy of expansion and cost-savings to tackle the challenges of marketplace volatility. Kinswood Eggs was founded at Brooks Green in 1970 by Bill Beckett. Today the business is run by Bill’s son, Mark, and grandson, Sam, and consists of five egg production sheds which house 10 flocks of laying hens producing an

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Since upgrading the laying sheds, the Becketts have installed 300kW of roof-mounted solar panels. “On an annual basis we are producing about half of the electricity we use which makes a huge difference to our overheads. It was an obvious way for us to cut costs and protect the business from rising energy prices,” Mark adds. More recently, Mark and Sam have turned their attention to expanding the business and have secured planning permission for a sixth laying shed to extend the farm’s total capacity to 420,000 birds. For now however, those plans

average of 250,000 eggs per day. A substantial packing shed, complete with modern egg grading and packing facilities, completes the company’s infrastructure, with bulk and pre-packed eggs distributed throughout the south of England to customers which include the food processing, catering trade and wholesale markets. The company employs a full-time staff of 50 people, with Sam joining the business five years ago after graduating from Chichester College. The last decade has been challenging for the poultry sector, with volatile cereal prices just one of the many factors squeezing margins. The sector has also undergone some major legislative changes, with egg producers being required to update their facilities from battery cage systems with high stocking densities, to welfare friendly colony based units.

have been put on hold with the most recent AMC loan being used to construct the site’s first rearing shed instead. “We looked at what the really big egg producers are doing and identified that rearing our own hens from day-old chicks to point of lay birds could save us a significant amount of money each year.” Bought-in birds currently cost up to £4.00 each, but Sam has calculated that he can rear his own at a cost of £3.50 per bird. “For an outfit of our relatively modest size that represents a huge saving. It will also give us greater control over the quality of our replacement birds as we will know that we are taking all the necessary precautions to safeguard each bird’s health and immunity status.” The new rearing shed, which will produce its first batch of birds in early 2016, will have a capacity of 30,000 birds per rear, with about three rears per year possible. “If everything goes to plan and the birds we produce are of the quality we expect, we will build more rearing capacity as we have an Environment Agency (EA) permit to have 110,000 pullets on site,” Sam explains. “Otherwise we will continue to fine tune the system and expand egg output instead by completing the sixth laying shed. “Either way, we fully intend to keep growing the business in order to improve our own efficiencies and drive down production costs. With AMC on our side, we are confident we have got the right support to enable us to achieve those goals.”

AMC loans available for business purposes only, provided on a secured loan basis. Minimum AMC standard loan £25,001, minimum flexible facility £30,000. To meet customer requirements, lending criteria will vary. Lending is subject to status.

“AMC could not have been more accommodating. They understood that, like many agricultural businesses, cash flows may vary significantly from year to year.”

Kinswood Eggs used an AMC 15-year loan to update the farm’s facilities so that it met the new regulations.

We can help For a full list of AMC agents across the UK phone 01264 334747

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Our service promise

We aim to provide the highest level of customer service possible. If you do experience a problem, we will always seek to resolve this as quickly and efficiently as possible. If you would like a copy of our complaint procedures, please contact us on 01264 334747.

How to get in touch with us Contact one of Robinson & Hall’s AMC Agents at your nearest office: Stephen Home BSc (Hons) FRICS FAAV Robinson & Hall, Bedford T: 01234 362911 E: [email protected] Andrew Jenkinson BSc (Hons) MRICS FAAV Robinson & Hall, Buckingham T: 01280 818905 E: [email protected] David West ACIB Robinson & Hall, Colchester T: 01473 835254 E: [email protected] Chris Leney MRICS FAAV Robinson & Hall, Ipswich T: 01473 835253 E: [email protected]

Secured loans available for business purposes only. Minimum AMC standard loan £25,001. Minimum Flexible Facility £30,000. To meet customer requirements, lending criteria will vary. Before taking out a mortgage you should take financial advice from a professional adviser or accountant.

Please contact us if you would like this information in an alternative format such as Braille, large print or audio. If you have a hearing or speech impairment you can use Text Relay (previously Typetalk). Office hours are 09:00 to 17:00, Monday to Friday, excluding Bank and Public holidays. The Agricultural Mortgage Corporation plc, registered in England & Wales, no. 234742. Registered office: Charlton Place, Charlton Road, Andover, Hampshire SP10 1RE. Telephone: 01264 334344.

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