The first few months of the year have been a busy time, with increasing numbers of enquiries after the uncertainty around the election. Unlike some other lenders, UKAF has kept writing loans during the lockdown, thanks to secure funding lines across its bridge and term products, supported by a rapid move to remote working.

UKAF and the industry have faced the challenge of finding valuers to visit properties, but the team’s ability to lend against agricultural land allows for more flexibility in what is valued, and the nature of farmland and buildings making social distancing much easier to maintain.

Indeed, some loans are proceeding based on a mix of a Red Book valuation on the land and barns, but an estimate on the farmhouse.

Despite the COVID-19 uncertainty, UKAF has maintained its constructive approach to providing loans, all without changing its lending criteria, since its own investors understand the long-term, attractive nature of farming.

Louise Old, head of businesses development in the North East and Scotland, said: “We are thrilled to be able to assist our clients during lockdown and is testament to our commitment to help the rural and agricultural communities across England Scotland and Wales and our ability to commit capital to new loans during these challenging times.”

• Read all of our articles relating to COVID-19 here.