Astrid Michael – Head of Sales – United Trust Bank
Over the last few years UTB has developed considerable in-house expertise in our credit team. Gavin Mancey and Rob Irving are our agricultural and refinance specialists and we encourage brokers to speak directly to our credit team who will use their knowledge and experience to do all they can to agree a solution which suits everyone, especially on ‘story’ deals. And, as a strictly ‘broker only’ asset finance funder, we’re never going to compete with you in the future.
Here are just a few brief examples of agricultural refinance deals where the farmers were borrowing for a wide variety of reasons.
- £56,000 refinance of a Massey Ferguson loader to enable the farmer to increase their wagyu beef herd.
- £30,000 refinance of a 2004 Claas Lexion 560 combine to fund essential farm drainage works identified over the wet winter.
- £32,000 refinance of a Volvo EC60E excavator to settle previous year’s corporation tax bill.
- £100,000 refinance of a 2018 Fendt 724 Vario tractor to fund investment in farm infrastructure.
- £54,000 refinance of a 2018 JCB 419S agri wheeled loader to fund the construction of an additional storage building to help protect products from increasingly wet weather.