Kiwi farmers say rural banking issues are nearing crisis point, according to a survey by Federated Farmers.
The survey revealed record low farmer confidence, with one in four saying they've come under undue pressure from their banks.
High costs and ever-increasing interest rates are suffocating Waikato dairy farmer Bart van de Ven's dream of owning his own farm - something he thought he'd be on the verge of after 18 years in the industry.
"It's deflating because you're not going anywhere, to put it lightly," he told Newshub.
That sentiment is reflected in the latest Federated Farmers banking survey.
"Our latest survey shows that rural banking issues are reaching a crisis point," Federated Farmers commerce and competition spokesperson Richard McIntyre said.
"We thought the survey results six months ago were bad but these are even worse."
It shows a record low off the back of a previous record low.
Satisfaction with banks is at its lowest since the survey began in 2015, when about 80 percent of farmers were happy.
Now, that number hovers around the 50 percent mark - with one in four farmers saying they've come under undue pressure from their bank.
Federated Farmers on Thursday urged Parliament's Primary Production Select Committee to conduct an independent inquiry.
The Banking Association said banks currently lend more than $62 billion to farmers.
It said farmers receive a high level of support from their banks, adding many business owners - including farmers - are doing it tough in the current economic climate, so it's not surprising to see lower satisfaction ratings.
But the association also said while banks will support their customers, lending to businesses is usually riskier than housing, which is why companies, including farmers, tend to pay higher interest rates than homeowners.
"We're not wanting home loan buyers to pay as much as us, that's unfair, what we find unfair is that we pay more than everyone else and we just want to be a part of everyone else," van de Ven said.
That's so farm ownership can one day soon become more than just a pipe dream for the Waikato farmer.
