Loans for older people

farmera

Hi

Not sure if anyone can help but my Mum is 76, owns farm valued in excess of £1000,000, she is trying to get a loan of £100,000 to expand and also do some repairs to farm. It is proving nearly impossible to find anyone to let her have any money even with the good LTV of it. Putting me on the loan with her is a problem as I was discharged from bankruptcy last November so not exactly a good partner to have in the eyes of lenders, although nothing to do with farm I had a retail business. My partner and I live with my Mum and run farm as well as having other work. Any advice welcome. Thanks

CLAPTON

what do the audited acccounts of the farm show as income?

farmera

My Father died in 2007, the first year following death showed a loss as it wasthe year of Foot and Mouth and BlueTongue which made life very difficult in our area, we turned it round to profit of £8000 last year and have 2 years projected figures showing up to £60000 profit if we could get money to do what we want to do.

Errata

Info on agricultural loans here http://www.nfuonline.com/x37427.xml