UKAF Development

UKAF provides £1m loan to convert farm house into holiday rental

UK Agricultural Finance (UKAF) has provided a £1m bridging loan to complete the conversion of a large farmhouse into a holiday rental property.

The borrower — who was experienced in securing complex planning permissions for the development and rental of properties for the holiday market — needed the capital to complete the development of the farmhouse and numerous out-buildings.

Early in the process, a UKAF director visited the site to meet the borrower as the development of the site had only been partially completed.

Mark Thompson, COO at UK Agricultural Finance, said: “We are extremely pleased to assist in the development of this project, supporting the local rural economy and providing capital to a client that needed funds to complete their vision.”

This comes after the lender revealed that it planned to expand its loan book by up to £150m after securing new funding late last year.

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