27/08/2026
Most farmers trust their bankers implicitly. Bankers are almost their financial advisers. It is therefore very sad to see major banks deliberately hiding loan terms and conditions from their farm customers and setting them up with loans that will trap them in unaffordable loans, unable to ever escape without selling all or part of their farms.
Farmers would do well to to check very carefully the repayment side of their loans. I know when borrowing to buy each of my two farms I was mainly focused on just getting the money. The banks never cheated me because as a Chartered Accountant who had audited banks, I knew to be very careful.
The harm done to farm families by the modern Debt Traps set in our post-de-regulation era is disgraceful.
Today many major banks put profit a long way ahead of customer service.
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