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NatWest offers farmers repayment holidays as drought hits yields
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News Archives - Business Matters
NatWest is making loan repayment holidays, interest rate reductions and temporary emergency lending with no arrangement fees available to farming customers, as drought conditions across large parts of the UK cut crop yields and put pressure on farm cashflow.
According to the bank, arable farmers are facing lower yields and earlier harvesting, while livestock businesses are contending with reduced grass growth and increased feed costs.
With harvests progressing earlier than usual in some areas and livestock farmers already relying on winter feed stocks due to poor grass growth, cashflow and feed availability could become increasingly challenging.
The bank said its network of named agriculture relationship managers gives farming customers a dedicated point of contact with sector expertise.
NatWest is encouraging agricultural customers experiencing financial pressure because of the drought to contact their relationship manager as early as possible.