AMC ANNOUNCES NEW RURAL BUSINESS MORTGAGE

The AMC has recently launched a new financial product called the Rural Business Mortgage.

In the past the AMC has always offered very competitive loans and mortgages to farmers and landowners for various purposes including re-financing, diversification, purchase of farms, the erection of new buildings and other infrastructure projects. More recently it has offered loans to the horticultural and garden centre sectors.

This latest product, the Rural Business Mortgage, now makes the AMC available to a new sector of potential borrowers. To be eligible for the Rural Business Mortgage, borrowers must be able to show that the loan is for a business purpose. Very often the letting of land will qualify for this purpose and secondly, the security offered must be in a rural location. This product is therefore ideally suited to those who are purchasing houses with land.

Additionally, the Rural Business Mortgage enjoys the same benefits as any other AMC mortgage; namely there is a single upfront fee; the term of the agreement is changeable; the loan is uncallable; there is no compulsory insurance, and total income from all sources will be taken into account when assessing a loan application. The loan term can be up to 30 years with no review; the loan can be set against business tax and the entire value of any security is considered.

Additionally, AMC loans can be taken out up to 75 years of age; at up to 60% of the security offered on an interest only or annuity basis.

If you are interested in any of the AMC products for any of the purposes mentioned in this article then please contact Andrew Coney or Paul Wilson.