About UKAF
What is UKAF?
UK Agricultural Finance is an innovative and flexible lender to the commercial agricultural sector across England, Scotland and Wales. Securing finance is essential for every business. We offer a bespoke lending service, with flexible options tailored to your needs, and the ability to talk directly to the loan underwriter.
How are you different?
Everything we do is different. We offer a personalised and adaptable service experience like no other. We are committed to responsible lending and helping you grow your business. Our team is trained to find solutions, not say no.
Where are you based?
Our registered office is in London, but the nerve centre is with our underwriting team in Kent. More importantly, we’ll always visit you on site before making a loan, so you can meet the people you will deal with
Who owns UKAF?
UKAF is a privately owned company with a group of highly experienced investors at the helm. Without our investors, we wouldn’t be able to bring you our loans.
Are you regulated?
Agricultural Finance Limited, is not regulated by the FCA, as we only lend for business purposes therefore our loans are actually considered unregulated.
What new products are you planning?
We have a number of new products planned, designed to meet specific needs of the agricultural sector. It there’s something you particularly require, let us know – you’ll be surprised how quick and adaptive we can be.
What career opportunities do you have?
We’re looking for interesting and experienced people with an entrepreneurial spirit to help us turn our vision into a reality. If you’re interested in joining us, find out more here.
Fundamentals
Why should I approach you?
We are a small team focussed only on Britain’s agricultural sector, so we understand your business and offer a reliable and flexible service, where you can talk directly to anyone in the organisation and in particular, the people who make our lending decisions.
Who is an average customer?
Hard to say, as we’re yet to find an average farmer. In general, our borrowers tend to be hard working, entrepreneurial individuals who are willing to take responsibility for their own well-being and just need funding by a like-minded organisation that trusts people, rather than computers or call centres.
Where’s my nearest branch?
We don’t have high street branches because they’re unnecessary. You can manage your relationship with us on your phone or email. And we visit everyone we lend to in person.
Do you have a responsible lending policy?
Yes, we take responsible lending very seriously and always try to work in our borrowers and investors’ best interests. We recommend that any potential borrower should always seek appropriate independent professional advice before approaching us (or anyone) for a loan.
Borrowing
How much can I borrow?
We lend from £100,000 to £10 million and up to 65% of the value of the agricultural land and buildings upon which the loan is secured.
How long can I borrow for?
Our loans are available for up to seven years.
How much will my loan cost?
The interest rate depends on how much you want to borrow, what percentage this is of the security value, your credit history and the level of risk we assess your loan to represent. Each case is individually reviewed and takes all your details into account.
What can I borrow for?
We will lend for any credible business purpose, such as property purchase or transfer, refinancing, working capital, business growth, investment, diversification, renewable energy and business acquisition.
Who do you lend to?
We accept applications from sole traders, partnerships (English or Scottish), limited liability partnerships, limited companies, PLCs and pension funds, provided you are based in Britain.
How do I apply?
To apply for a loan please contact a member of our team who will discuss your requirements and explain the process to you, or complete the enquiry form on the relevant page and we will get back to you.
Are there any fees or charges?
Our fee structure is simple and transparent. These fees only apply if you accept a loan and are set out in the Facility Letter. Other charges are listed within our Lending Fees Guide.
Do you charge an early redemption fee?
Some of our lower cost loans have an early redemption charge during the first couple of years. However, this will be clearly disclosed to you before you sign. If you have pre-paid a proportion of the interest and you repay before the end of the prepayment period expires, we will refund the unused interest without charge.
Can a borrower use your solicitor or do they need their own?
In some circumstances our solicitor will be able to represent you as well as UKAF, saving cost, however this option is only available for simple transactions and depends on the circumstances of the individual loan. If this is not the case, then you must be represented by your own independent solicitor.
Upfront fees
UKAF will never, under any circumstances, ask you for an upfront fee in order to borrow from us. We may require you to directly pay the valuer’s fee for an independent valuation report and provide an undertaking to cover our external legal costs, once you have accepted an offer in principle, but we will never require you to pay anything to talk to us or have a broker introduce your loan request to us.
Do you pay introducers?
We sometimes pay a fee to a broker or introducer, but this will be disclosed to you in our Offer in Principle.
Does UKAF offer payment protection insurance?
No. UKAF does not offer any form of insurance to borrowers and we recommend that you seek appropriate independent advice on the level and type of insurance you should hold.
Are there any additional costs that could apply to my loan?
If borrowers are late in their repayments, we may apply an administration fee or an increased interest charge as set out in the Facility Letter that we will both have signed, before you receive the loan.
How quickly can my business get a loan?
We move quickly and our loans page explains the information we require for an in-principle response. With the right information, we can provide an offer in-principle within 12 hours and funding within 10 business days. However, normally the things that take the time are the independent chartered surveyor’s valuation report and your solicitor’s ability to provide the relevant security documentation, both of which are under your control.
How can I contact you?
If you would like help, please have a look at our FAQ section as we may have an answer for your question there. If you still need to get in touch you can send us an email. We welcome any thoughts, comments or questions you have and aim to reply within two working days. If your query is urgent, you can also call us on 01732 252 399. You can write to us at Unit B, Great Hollanden Business Centre, Mill Lane, Underriver, Kent, TN15 0SQ.
What happens if I’m late or think I will be late paying a monthly instalment?
If at any time you believe that you may not be able to make one or more repayments, please contact us immediately. We will work constructively with you to manage the situation and avoid undue costs, provided you are open and honest with us, and respond promptly.
If you miss a payment or only partially pay the amount due, we (ourselves or through an agent acting on our behalf) will contact you and ask you to explain why and will attempt to recollect the payment. If our reattempt to collect the funds fails, your account may be treated as an overdue account, and we will continue to attempt to collect the funds. We may refer the missed payment to a debt collections agency, who will attempt to collect the money on our behalf.