A family that has worked the same hillside farm for five generations was yesterday forced to hand over their land to an ‘aggressive’ loan company. Mary and Alun Williams, who produce beef and lamb for supermarkets, say their lives have been destroyed after they were tied to crippling interest rates that dragged them into millions of pounds of debt. Llangefni County Court yesterday ruled they would have to hand over the 600-acre Rhyngddwyafon Farm in Snowdonia National Park, North Wales, which the family has farmed for a century. Mary and Alun Williams (pictured), who produce beef and lamb for supermarkets at their 600-acre farm in Snowdonia National Park, North Wales, have ordered by a court to hand over their land to a loan company . Mary Williams, 55, (pictured outside Llangefni County Court following the ruling) said it was 'the worst day of our lives' and claimed the couple had been 'duped by a firm that is asset-stripping farmers of their livelihoods' Last night Mrs Williams, 55, said: ‘It has been absolutely heartbreaking, the worst day of our lives. We have been totally duped by a firm that is asset-stripping farmers of their livelihoods. ‘My family and especially my sons, Iwan and Rhodri, who farm the land, face an uncertain future. I think the fact nothing has been done to stop this company is a national disgrace. ‘I can’t believed we were so stupid as to believe them and trust them.’ The Williams family say they were advised about four years ago to take a short-term commercial bridging loan to cover their mortgage – starting at rates of up to 22 per cent with the understanding a domestic mortgage rate of around 4 per cent would follow. As it did not materialise they took out further bridging loans and saw their £1.24million loan rocket to £3.1million due to fees, interest and other charges. When they were unable to pay, the firm – Somerset-based UK Acorn Finance – started legal action to repossess the farm. Farmers across the UK are being driven to the wall by lenders using lax regulation to seize properties and livelihoods, say MPs, who accused Acorn of ‘reckless, if not fraudulent’ practice. The couple initially took out a short-term commercial bridging loan to cover their mortgage four years ago but saw the amount they had to pay back soar to £3.1million due to additional loans, fees, interest and charges . The family has farmed on the 600-acre estate in North Wales for the last century. Pictured: Three generations of Williams in 1995:  Iwan, the son of Alun (left), with his father Alun (centre), who is the son Robert (right) Dismissing Mrs Williams’ application for permission to appeal against the forfeiture of the farm, Mr Justice Guy Newey said: ‘I haven’t been persuaded an appeal would have a real prospect of success. 'I appreciate the thoroughly unenviable position Mrs Williams and her family find themselves and I very much sympathise with them.’ As commercial lending is unregulated, most of Acorn’s activities are not overseen by the Financial Conduct Authority. Elfyn Llwyd, a Plaid Cymru MP and barrister, said Acorn and associated companies had exploited farmers for more than two decades in what he called ‘one of the worst scandals’ he had seen. Dozens of farmers have complained to Avon and Somerset Police, saying they were victims of an organised sting with conspiring lenders, brokers and solicitors. Mrs Williams (pictured right on the farm in 2007) said: 'I can’t believed we were so stupid as to believe and trust them' after being dragged into debt by the loans. Pictured left: Her husband Alun working on the farm in 1986 . The couple said their lives have been destroyed by the crippling interest rates that dragged them into  debt . In response to complaints it had not tackled Acorn, the force said it accepted the lender was ‘aggressive and unpleasant’ and had caused significant distress. It said the firm exploits a ‘loophole’ and called for tighter regulation. Now the Financial Conduct Authority, the Solicitors Regulation Authority and the Government are scrutinising Acorn’s activities. Outside court, the firm said: ‘UK Acorn Finance has repeatedly invited Mrs Williams to enter into a constructive dialogue with it to achieve the repayment of her loans but Mrs Williams has chosen not to take up those invitations. 'That has left UK Acorn Finance with no option other than the enforcement of its loan security.’
Mary and Alun Williams forced to hand over their beloved farm to loan firm . Couple fell into millions of pounds of debt after taking out commercial loan . Debt soared to £3.1m due to fees and interest which they could not re-pay . Court ruled they should give up farm, which has been in family for century .