Agricultural banks
- Thread starter boy jack
- Start date
Hilly
Member
- Location
- Scottish Borders.
Oxbury are good.
You been watching Olly Blogs?
2nd vote for oxbury, depending on what your after.
They don't offer current accounts, but good from a farm mortgage point of view
They don't offer current accounts, but good from a farm mortgage point of view
- Location
- People's Republic of South Yorkshire
Use Oxbury as use Frontier a bit a Hutchins fair bit.
So acts like an overdraft really if you need it.
So acts like an overdraft really if you need it.
Virgin are pushing in the press at the moment for farming businesses, were looking to change banks at the moment, currently with RBS and it seems you need to be borrowing an awful lot more than we do to get an actual person to speak to, never had a face to face meeting with a "bank manager for 5 years. Looked at Barclays but they didn't seem interested as we weren't wanting to borrow alot of money ! Having a meeting with virgin money shortly
Keep us posted with your findings please.
- Location
- Wiltshire
I have a Oxbury Milk Cheque account although I think they have changed the name now. I treat it like a credit card with a big limit, all done online can draw down up to your limit with a couple of clicks. You have to pay back a minimum of 5% a month and as much as you want at any time.
So far they have been very hands off, I just get a how’s it going call every 6 months.
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So far they have been very hands off, I just get a how’s it going call every 6 months.
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What's the interest rate like?
- Location
- East Sussex
Anyone experience of Handelsbanken?
It has been suggested that they are easier to deal with and more competitive than the old High street banks that are no longer there!!
It has been suggested that they are easier to deal with and more competitive than the old High street banks that are no longer there!!
Devil's advocate
Member
- Location
- Posh side of Barnsley
- Location
- Shropshire
Big numbers owed
So off the back of your post I contacted Oliver Maxey at Virgin, Head of ag in Southern England. He was a clued up chap and very straight talking, basically said you won't find better service than you already have unless you up your borrowing, borrow over 100k and you'll have a personal banker, move your mortgage to who you bank with and you'll have super service.
What I took away from it is a trust thing, if you look after your farm, finances and borrowings there's no need to have someone managing your assets and liabilities for you, so you don't have the old fashioned manager chat...they are not interested because you're doing just fine by yourself. What they lend you on bigger things is in their interest as to what you're doing with their money so they will keep an open line. However, they are looking to quote me on bigger things and have so far been proactive, along with offering loan extensions based on current security as a tack on to existing and flat interest tariff... that to me is appealing, but doubt they can match interest rates on older mortgage. Hope this helps
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- Location
- Portsmouth
I've commercial loans.
Approx £185k outstanding on one with the bank we have our business account with. We have no relationship manager any more. (Lloyds)
Around £250k with barclays. No contact from them at all since we finally did the deal over a year ago.
My experience is it needs to be alot more than £100k borrowing for a dedicated manager
Approx £185k outstanding on one with the bank we have our business account with. We have no relationship manager any more. (Lloyds)
Around £250k with barclays. No contact from them at all since we finally did the deal over a year ago.
My experience is it needs to be alot more than £100k borrowing for a dedicated manager
Absolutely the worst bank we have ever dealt with, give them a wide berth. We were really happy with Yorkshire for years and then they got taken over by Virgin and it was a nightmare, from pulling overdraft facilities, condescending managers and absolutely no idea about farming. We moved to HSBC who have been brilliant.
We were with them for a while. Customer service is very good but we found their complete lack of agricultural knowledge frustrating.
Our manager would request fairly regular updates on our financial budgets which was fine. But then I would have to spend hours explaining BPS, stewardship, grass keep, effects of weather on crops and stock performance, commodity price movements etc etc
We now have a current account with Natwest and a separate facility with Oxbury. Our banking life is much more straightforward (and lower cost).
4course
Member
- Location
- north yorks
we used to have direct contact/ end of a phone with a barclays ag manager , over the years built a profitable business now its a team that havnt a clue about me or my business ,im glad that nowadays I dont need their help or support in a major way , problem is there is little alternative. How the feck the younger generation are going to build any business when as the last person I spoke to was only interested if I was borrowing millions with assets to cover several times so ive come to the conclusion f em im off especially as the difference they pay in interest on deposits is pitiful in comparison to what they want to charge over base plus costs