| Property | Freehold two-storey clinic building |
|---|---|
| Location | Harrow, North West London |
| Client | Dental practice owners buying the building they have rented for four years |
| Product | Commercial mortgages |
The challenge
The landlord offered to sell the building, and the practice needed to agree terms before the offer lapsed. Lenders would assess the business's trading profits, not just the property value.
What we did
We prepared a lending pack with three years of accounts, management figures and the practice's NHS and private income mix. We approached lenders that lend to healthcare businesses on owner-occupied premises. The repayment term was set so the new mortgage payment sat comfortably below the old rent plus a buffer.
The outcome
The partners now own their premises, with a mortgage payment that replaced the rent.
Commercial mortgagesFinance to buy or refinance offices, shops, warehouses and other business or investment premises.
Learn moreImportant: Commercial mortgages and most business finance are not regulated by the FCA. Your property may be repossessed if you do not keep up repayments on loans secured against it.