When Adelle Brabham moved to Stanhope Farm, Hucking near Maidstone with her mother they were granted a residential mortgage on their bungalow, 42 acres, 23 stables, storage and tack rooms.
Adelle and her mother ran a thriving livery yard with a mixture of DIY, full-time and part-time liveries, and produced and sold hay and haylage to clients.
Existing bank’s policy changed
When her mother died ten years later, Adelle was left to run the business alone. Adelle approached her then bank a few years later with plans to add her long-time partner, Anthony, to her property deeds and mortgage.
Even though all loan payments had always been made on time, the bank told Adelle they had to withdraw her mortgage as the commercial nature of the property no longer fitted their mortgage policy.
Her bank couldn’t offer any alternative commercial mortgages, so she needed help to secure a future for her cherished business.
Connecting with people who understand
Adelle had already tried talking to a finance broker, but they didn’t have access to any specialist rural lenders.
Recommended by a friend, Adelle got in touch with Rob Lister at R&BS – and with the right connections Rob was able to put Adelle’s requirements to lenders he knew understood the business and would be open to taking on Adelle and Anthony’s property.
Rob was successful in finding a competitive mortgage for Adelle and Anthony. Now, with an appropriate mortgage in place, the livery business continues to thrive and has a long waiting list.
Adelle’s situation isn’t uncommon in today’s mortgage world. If you or your bank can’t find a suitable product, a good finance consultant is always an option… especially one like Rob or his colleagues at R&BS who understand rural businesses.
If you want to find the best mortgage for your equestrian business, please get in touch.