By Olivia Cooper

FARMERS are being invited to take home a new tractor with as little as 1 deposit, thanks to a new scheme from NFU Mutual Finance.

In a joint partnership between the Bank of Scotland and NFU Mutual, the scheme aims to provide farmers with tailor-made finance packages, allowing them to buy farm equipment without having to shell out the usual 15-20% deposit.

“We recognise the challenges the farming industry is facing, and have designed a range of products which will allow re-investment without having to find a large deposit or face high payments,” says managing director Scott Campbell.

The advice and finance available ranges from farm development loans, including diversification and milk quota acquisition, to used farm machinery or private cars.

“We want to enable people to plan for the future, and to make it easier for them to invest in that future,” said a spokeswoman for the company.