In 1928 there was a crisis in farming, with too few people owning land - AMC was created to help get the UK farming again.
The Agricultural Mortgage Corporation – AMC – was created to revitalise land ownership to get a new generation of farmers onto their own land and farming to feed the nation. Following the social changes that took place after the First World War, Government identified a need for long term finance in the agricultural industry to satisfy an investment demand - not least of which was to fund the purchase by tenants of the farms they rented. As a result, the Government set up The Agricultural Mortgage Corporation on 12th November 1928 under the Agricultural Credits Act 1928.
Initially owned by the Bank of England, AMC provides long term mortgages for land and redeveloping farming and rural based businesses.
There are few better examples of how Lloyds Banking Group is helping Britain prosper. Over 95 years of supporting UK farming with mortgages tailored to the specific needs of agriculture and rural business.
Built on enabling land purchase, AMC has grown to support expanding equipment, milk quotas, and work on new and refurbished buildings – helping develop a farming business. Modern farming increasingly means investments in irrigation, wind-turbines or bio-fuels, and AMC are on-hand to help with financing the development of the modern rural economy.