The Agricultural Mortgage Corporation (AMC) has launched a new Rural Business Loan, which can be used to fund any rural business, including horticulture, as long as the applicant owns a house and land.

Money can be used for a host of purposes including, erecting glasshouses, converting or developing buildings, buying land, buying a house with land, restructuring bank borrowing, or for working capital.

The Rural Business Loan is said to provide a number of benefits beyond a residential mortgage. AMC can take a house, buildings and land as security, with no need to split the title deeds. AMC is also able to lend on agriculturally tied properties, and all income streams including business, rental, salary or pension income can be taken into account when assessing a loan proposal.