The husband and wife were looking to purchase the Yorkshire farmhouse and stables – which were located in 20 acres of land – at auction, but the farmhouse wasn’t completed, and the couple’s bank would not take the time to assess the loan.

The four-bedroom detached farmhouse was built from natural stone with a stone slate roof and located on the top of a hill with views of the surrounding area.

The property’s floors, doors and windows were fitted on the ground and first floor, but the walls were still bare block work.

The buyers still needed to install the wiring, plumbing and plastering and needed to complete the house internally.

•   UK Agricultural Finance lends £490,000 for stone barn redevelopment
•   UK Agricultural Finance supports farmer with £152,000 bridge
•   A guide to agricultural finance

The team at UK Agricultural Finance faced a significant challenge to complete the loan as they only received the valuation on the Thursday prior to the completion date on the following Tuesday.

However, the team sped up the process to ensure the loan was completed on time.

The lender took a first charge over the farmland and the incomplete farmhouse with knowledge that as soon as the farmhouse was completed, the borrower should be able to refinance with a high street lender.

Robert Suss, co-founder at UK Agricultural Finance, said: “Having a specialist agriculture team that provides manual underwriting allows us to take the time to understand the specific circumstances allowing us to make responsible, informed underwriting decisions.

“In this case, we were able to provide an offer in principle within 24 hours and provide financing in days to meet an auction deadline.”