Sheep & Beef Direct
Fund your farm without the hassle
Buying or refinancing a sheep or beef farm? No need to visit or call the bank. Apply online for a Sheep & Beef Direct loan to get our 4.45% p.a. interest rate, plus the option for interest only repayments.
Are you eligible?
To be eligible for a Sheep & Beef Direct loan, you’ll need to meet the following criteria.
- You are a sheep or beef farmer.
- You have more than 50% equity
- The farm is 50 hectares or larger.
- You will provide us first mortgage security.
- You are 18 or older and a NZ citizen or permanent resident.
- You will be (or become) the owner/co-owner of the farm.
How does it work?
- Complete the 4-step online application anytime, anywhere.
- Get a decision online. No phone calls or bank visits required.
- We’ll confirm your details and loan structure, conduct any required checks and request any supporting documents.
- Have a chat with your lawyer to finalise the loan documentation.
Calculate your repayments
Have a play with the calculator below to see what your repayments could look like.
Got more questions?
- Can I use Sheep & Beef Direct for something other than a buying or refinancing a sheep or beef farm?
- No, at this stage we are only considering applications for farmers who already own or would like to buy a sheep or beef farm. To be eligible, you must meet the specific eligibility criteria outlined on the website page.
- What are the interest rates and fees for Sheep & Beef Direct?
- The interest rate for Sheep & Beef Direct is currently 4.45% p.a. and is capped for 12 months, meaning the rate could decrease during this time but will not increase. We will review this rate after 12 months. There are no establishment or ongoing fees to take out a Sheep & Beef Direct loan. There may be fees associated with varying or discharging your loan.
- Why is the application process online?
- An online application saves you time by allowing you to apply when and where you choose. There’s no need to spend time arranging appointments with rural relationship managers or going into a bank branch.
- What if my internet connection isn’t strong enough to complete the application?
- If you’re having internet issues and are unable to complete the application online, you can give us a call on 0800 43 27 00.
- What does online approval mean?
- Online approval means it looks like you meet our lending criteria based on the information you entered online. We will need to verify what you have told us with your supporting documentation, conduct any required checks, and confirm your loan structure. Any full approval will be subject to Heartland’s lending criteria, terms and conditions.
- How often will Heartland review my loan?
- You’re busy and we like to keep things hassle-free – we want to hear from you if your circumstances change, otherwise we’ll contact you every two years to review your loan.
- Do you have relationship managers that can meet with me?
- Our application is a simple, online process that you can complete yourself. Once you have completed the online application and received an online approval, a relationship manager will be in touch. If you have any further questions after approval, we can talk then.
- Do you offer a period of interest only repayments?
- Yes, we offer the option of five years of interest only, which can be extended in some cases.
- What information do I need to provide?
- After your online approval is received, you’ll need to provide us with a copy of your financial statements (less than 9 months old), a statement of position (less than 3 months old) and a valid ID and proof of address. We will also need to get a valuation of the farm, and other verification and checks may be required.
- What about personal guarantees?
- If your farm term loan will be to your company, someone “trading as” or if you rely on another entity for cash flow or security, we will require a personal guarantee from the company directors and shareholders, you or the directors of the other entity. This means that each guarantor will be liable for the obligation of the borrower should it not meet them. It’s important you understand what this means and we recommend you discuss this with your lawyer or a trusted advisor.
- Do you offer a revolving credit facility?
- Yes, we offer a revolving credit facility as a component of Sheep & Beef Direct for working capital needs up to 10% of your loan amount. The revolving credit facility has the same interest rate as the overall loan, which is capped at 4.45% p.a. for the first 12 months.
- Can I repay some or all of my loan early?
- Yes, you can repay all or part of your loan early at any time. There may be fees associated with the early repayment of your loan.
- What can I do if I’m struggling to make my repayments?
- We understand that circumstances out of your control may impact your ability to make your loan repayments. In this case, you may be able to apply for a hardship variation. You can find out more and apply here.