Category: Landowners

Yorkshire Machinery Finance for Farms

From tractors, headers or balers, if it’s part of a working farm Richmond Asset Finance can finance it! At Richmond Asset Finance we have access to an experienced panel of lenders so we can bring you only the best finance options for your farm machinery and business.

Agriculture is very diverse and we also understand that that some farmers have seasonal income, so we can tailor seasonal loan structures for certain applicants if the situation calls for it.

We also understand that a 1998 tractor might still be in good working condition, so older farm machinery can be financed from both private sellers and dealers. Simply ask us for more details.

We can offer agriculture finance loans for the following vehicles and equipment:

  • Tractors
  • Harvesters
  • Spraying Equipment
  • Spreaders
  • Seeders
  • Offset Disc
  • Balers
  • Irrigation
  • Telehandlers

Have farm equipment or machinery that’s not on the list? Call us and we’ll be happy to help: 0113 288 3277

Why Is The Machine Finance Market Growing?

Machines are critical to growth in the manufacturing sector but they are often expensive and can eat into business profits without some form of financial help.

Traditionally business owners turn to the bank to provide straightforward business loans to help if there is insufficient cash in the business to purchase machines. Even if there is enough cash to buy a machine, a loan can be a more sensible way to buy equipment particularly if there is risk attached in making large investments as there often is in business. However, business loans from banks also come at a cost and interest rates can be high.

Having multiple loans can also leave a business vulnerable in a downturn and restrict any cash flow available to grow the business. Machine finance is growing in popularity because it unlocks funding when you need it.

So if your business requires a new machine that will cut down the amount of manual labour required to get jobs done such as a CNC machine, machine finance can help you acquire that machinery at a minimum upfront cost.

This means you get the benefit of improved efficiency and profitability while spreading the cost. It can also be tax efficient now that the government has increased the annual investment allowance. So it comes as no surprise that the machine finance sector has grown 9% year on year.

Landowners facing hefty bills after flooding nightmare

Landowners facing major disruption caused by flooding may also have to fork out for repair work on neighbouring properties, the CLA has warned.

The Association said Government budget cuts could mean the repair bill could be passed on via the Private Nuisance law.

Private Nuisance is where a defendant causes a ‘substantial and unreasonable interference with a [claimant]’s land or his use or enjoyment of that land’.

Dozens of flood alerts remain in place today (Monday) as forecasters predict a return to stormy weather on Wednesday.

The south of England is expected to bear the brunt of the unsettled conditions.

CLA member Stephen Watkins currently has 100 ha (250 acres) of arable farmland under water and believes the idea of landowners being liable for flood defences is appalling.

Mr Watkins, of Seven Stoke, Worcester said: “It is absolutely horrifying that landowners may be liable for private nuisance claims if neighbours are hit by flooding.

“We accept the risk of being on a flood plain but the lack of maintenance of waterways is the big issue. If this were carried out efficiently, less money would need to be spent on flood defences.

“If we try to carry out maintenance ourselves to help prevent flooding, we are chastised for it. If neighbouring land floods due to the defences failing on our land, we may be liable. It feels like we are getting stick from all directions.”

The CLA said that despite predictions of more extreme weather to come, government cuts to flood defence jobs will leave farmland and communities unprotected.

Landowners could be left to stump up the costs for flood defences themselves.

CLA deputy president Ross Murray added: “Landowners must be able to carry out flood defence work where needed but not so as to create an unintended liability which would be both unfair and a disincentive for action.

“The recent flooding has shown the importance of our flood defences, and it is crucial that, despite the planned cuts, the Environment Agency prioritises them.

“Defence of land is in the national interest and, in the face of these cuts, red tape must be reduced to allow farmers to protect it.”