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Funding for healthcare

This is for anyone looking to raise a loan or mortgage in the Health Care sector

There is a huge demand from the high street lenders for Healthcare business at the moment Consequently there are some great deals to be done with lending against both bricks & mortar and business goodwill. If you are in this sector, below is an overview from just one lender – Note in some cases up to 100% of the B&M value and 90% of the goodwill


Dental Finance

  • 100% LTV against freehold VP value
  • 80% LTV against goodwill (not stock, fixtures and fittings)
  • Up to 25 year term where freehold part of proposal
  • Up to 15 years on goodwill only – dependent on lease terms
  • Max £1m funding available for goodwill or £1.5m where there are 3 or more sites

Pharmacy Loans

  • 90% LTV against operating concern value where there is a freehold element
  • 80% LTV against goodwill (not stock, fixtures and fittings)
  • Up to 15 year term available for both freehold and goodwill only

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2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:

Mortgages and Remortgages

Representative example

£80,000 over 240 months at an APRC OF 4.3% and a discounted variable annual interest rate for two years of 2.12% at £408.99 per month followed by 36 payments of £475.59 and 180 payments of £509.44. The total charge for credit is £39,873 which includes a £995 broker / processing fee and £125 application fee. Total repayable £119,873.

Secured / Second Charge Loans

Representative example

£63,000 over 228 months at an APRC OF 6.1% and an annual interest rate of 5.39% (Fixed for five years – variable thereafter) would be £463.09 per month, total charge for credit is £42,584.52 which includes a £2,690 broker / processing fee. Total repayable £105,584.52.

Unsecured Loans

Representative example

£4,000 over 36 months at an APR OF 49.9% (fixed) and an annual interest rate of 49.9% would be £216.21, total charge for credit is £3,783.56. Total repayable £7,783.56.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.


Written terms available on request. Loans are subject to affordability status and available to UK residents aged 18 or over. Promise Money is a trading style of Promise Solutions Ltd. Promise Solutions is a broker offering products which represent the whole of the specialist second mortgage market and is authorised and regulated by the Financial Conduct Authority – Number 681423.

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