Case Study – Agricultural Finance

For:                            Farm purchase
Location:                  Co. Armagh, Northern Ireland
Amount:                   £700,000

The Customer was introduced by his accountant after his Bank declined a loan application following several months of assurances that it would be sanctioned. The deadline for completion was due to pass and the Sellers’ solicitor was pushing for cancellation of the sale. The Customer was well known in the locality and failure to complete on the deal would have caused considerable embarrassment.

CS Finance were quickly able to obtain alternative finance allowing the purchase to complete and protect the Purchasers reputation in the local community.

The Customer required a funding of £650,000 however as part of the review, CS Finance recommended that the facility be sanctioned in two parts: £325,000 on variable rate & £325,000 on fixed rate so as to offer a degree of stability to the future monthly repayments. CS Finance were also able to agree the sanction of a £50,000 overdraft facility.

Fixed Rate Loan:             5.06% for x5 years

Variable Rate Loan:       Bank base rate plus 3% per annum

Overdraft:                        Bank base rate plus 3% per annum

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