Smallholding finance secured for a family and business move · Case Studies · R&BS

0800 781 1822 · North 0800 781 0639 · South

Smallholding finance secured for a family and business move

Smallholding Mortgages

John and Nicole Meyer were living in Essex where John ran a successful electrical/mechanical and agricultural engineering business. Nicole had reared and managed livestock and poultry and they have two horse-mad daughters.

John and Nicole had a long-term dream of combining their skills and moving to a smallholding to develop several enterprises and to run John’s business. 

Finance for a smallholding was a challenge

When a suitable five and a half-acre property with development potential near Exmoor came on the market, they wanted to move fast. But they could not find a bank that would support them. Many people find the same thing, as such properties fall between a residential mortgage and a commercial or agricultural business mortgage.

Mortgages for a commercially run smallholdings are difficult to justify without the right business planning and lending proposition. 

A farming client of John’s, who had used and been impressed with the results from R&BS, suggested they talk to Rob Lister. Rob has many years of experience with cases just like theirs. 

Rob worked closely with the Meyer’s to gather and create a pack of information, including business plans, budgets and projections, to put to banks and lenders. He demonstrated that the new enterprises could generate enough income and profit to make the monthly payments for the proposed loan, even if interest rates increase.

Our expertise found a positive outcome

Rob got a positive response for a variable rate mortgage with competitive lending terms from a commercial department of a high street lender. Once the mortgage was agreed, Rob helped progress the finance process and the property purchase to completion.

Nicole said, “Moving to Devon was always our dream, but financially we didn’t know where to start. We saved hard and then we found Rob, our financial genie, who made all our dreams come true! We thank him from the bottom of our hearts for his help.”

Furlong Farm now and the future

John and Nicole are now the proud owners of Furlong Farm, near South Molton There is no house on the site, but one of the two old buildings has planning consent for a residential property. John, Nicole and their daughters are living in a caravan on site while they complete the building work. John is continuing with his business in Essex three days a week and is in Devon growing his business locally and working on their building developments.

Long term, the family have a fabulous home with the space to grow John’s business fabricating stables and farm maintenance equipment. Nicole is starting a herd of meat goats and supplying eggs to local communities. They also plan to offer horse riding holiday and hunting liveries.
 

If you can’t find a lender to support you, talking to independent experts is a good option – especially ones like us who understand rural business and rural lenders. Please give us a call or email us for a no-obligation discussion, we’d love to help you.

North: 0800 781 1822  South: 0800 781 0639

mixed business