Prepare Well, Stress Less: Your New Year Bank Review
Hello,
We are into the silly season, and hopefully everyone’s harvest has been going well. We know there has been some rain, frost and a few storms, so we are thinking of anyone who has been affected.
As we come to the end of the year, we want to thank everyone who has supported our business. Whether you are a new client, a long term client, or you have simply referred someone our way, we are truly grateful.
We know everyone is flat out, so we will keep this newsletter short. But we do want to wish you all a Merry Christmas and a safe, happy New Year. Enjoy some well earned time with your family and friends! We will be back in 2026, and we are excited to keep being the Brokers In Your Corner, advocating, negotiating, and supporting your farm throughout your financial journey.
Out and About – What We’ve Been Up To This Month
This month we had the chance to attend the Commercial Finance Awards. We are very excited to share that Purvis AgriFinance was awarded Agricultural Finance Brokerage of the Year.
Deb was also a finalist for Agricultural Finance Broker of the Year. It was a real thrill to receive this award and we are honoured. I’m sure many of you farmers can relate, that it was especially meaningful to be recognised as a team with Laura newly joining the business. Purvis AgriFinance has a bright future and it was pretty special to share that moment together in our first year working side by side. None of this is possible without our amazing clients and industry peers, so thank you to everyone who has trusted us and continues to support us.
As farmers get busier things get a little quieter in the office, but there is always something to do for our clients. This month we are working closely with an existing client who made an agreement with their bank after a tough season last year. Unfortunately conditions still have not been favourable and they do not feel confident they can meet their end of the agreement. They reached out to us nice and early, which has given us time to explore all options and find the best path forward for their business.
Commercial Broker Awards
Prepare Well, Stress Less: Your New Year Bank Review
The scenario above perfectly sums up the key message of this month’s blog, act early. Our clients reaching out now has given us a chance to ensure we have reviewed all possible options and work towards the best outcome for our clients.
I know it is the last thing most people want to be thinking about right now, but going into your bank review prepared can help to get the best outcome for yourself.
If you do not have time to read the full blog, our top tips are:
- Act early
- Know your commitments
- Know your numbers and how to communicate them
And as always, if you hit any roadblocks pulling things together, you know where to find us.
Click the link below to read more.
Click Here: Prepare Well, Stress Less: Your New Year Bank Review
What’s Happening with Interest Rates?
To be honest there is not a whole lot happening with interest rates at the moment, and most market experts expect that to continue for a little while yet.
Current bank forecasts are:
Commonwealth Bank (CBA)
Currently does not predict any further cuts.
Westpac
Expecting two rate cuts of 0.25% in May and August 2026.
National Australia Bank (NAB)
NAB have ruled out further rate cuts for the remainder of the year. They expect the next rate change to be in May 2026.
ANZ
ANZ predicts a 0.25 percent cut in March 2026, taking the cash rate to 3.35 percent.
“By failing to prepare, you are preparing to fail.” — Benjamin Franklin
Have a great day!!
Deb & Laura
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From the Purvis AgriFinance Archives
8 Reasons to Get Away From the Farm – A review of the benefits of stepping away from the farm (even just for the afternoon) after busy seasons.
Agribusiness Finance Options – If you are preparing for your annual bank review, it is worth knowing what finance options are out there to make sure your banking is right for you.
4 Reasons Farmers Avoid Reviewing Interest Rates – Annual reviews are always a good time to consider if your interest rate is sitting where it should be. Give this a read, if you don’t think it is where it should be, reach out!