Challenge

Robert Vant farms alongside his brother Richard and Richard’s son Roger, running a 500-acre mixed enterprise comprising a 200-head beef herd, 400 sheep and arable crops on the North Downs in Kent.

As part of the family’s longer-term plans, they began developing holiday cottages to introduce an additional income stream alongside the core farming operation. The aim was to strengthen resilience and support the business across generations.

Their bank had agreed funding in principle. However, over the three years it took for the development to progress, lender appetite shifted — influenced by rising base rates, internal policy changes and relationship manager turnover. Support for the project was withdrawn.

Keen to proceed, the family needed a new banking relationship and a clear structure to allow the development to complete and transition into trading.

Solution

Having previously worked with Rob Lister of R&BS for land purchase funding in 2021, the family turned to him again.

Rob prepared updated financial information defining existing farm income alongside the projected holiday letting income.

The aim was to present the business as a whole, not just focusing solely on the development.

• The funding was structured to reflect how the project would progress in practice:
• Staged drawdown aligned with the builders’ programme
• 50 acres of additional security used only during the build phase
• An 18-month interest-only period to allow time until launch
• A transition to a capital and interest facility in line with lender policy
• A working capital overdraft to support the wider business

The new lender also restructured the existing mortgage from the previous bank, bringing the farm and diversification under a single, coherent banking arrangement.

Outcome

Funding was secured to complete the development and place it on a longer-term footing.

The cottages are now finished and being let, providing additional income alongside the beef, sheep and arable enterprises.

The Vants now have a banking relationship and structure aligned with the direction of their business — supporting both the core farm and its diversification plans.

Robert Vant says:

“Rob Lister has been with us throughout — from land purchase to development. When our bank’s support waned, he remained steady and independent. He understood our business in full and helped structure a facility and banking relationship that supports where we’re heading.”