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> Commercial Property: Surgeries
Obtaining a mortgage for a surgery is often easier than most commercial property applications. The reason for this is that it is considered low risk as doctor income is regular and solid, usually backed by the government through the National Health Service. Because they are extremely safe from the lender's perspective, this means the borrower is usually able to borrow more money than other types of commercial premises.
Like most commercial mortgage applications, the judgment for approval will be made on the overall net operating profit. A healthcare professional wanting to buy a surgery will be helped by the high loan-to-value (LTV) often offered by lenders, sometimes as much as 100%. Tax relief on the borrowed money which potentially can be offset against surgery income stream is another major attraction. Another option increasingly offered to healthcare professionals is a mortgage that can be offset against a business account, further reducing the debt burden.
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The partners of the surgery may also have the opportunity to borrow against the investment if they wish to expand later. Given that many health care centres are being developed to cater to an increasing range of conditions and specialisms including complimentary medicine, there could be incentives to take further possible expansion into consideration - and to borrow as much as is available. |
If you are looking to borrow money for any type of property for any purpose, please complete a Mortgage Enquiry Form above and we will arrange for one of our specialist mortgage advisers to contact you. Alternatively, you can call us on 0845 108 0505.
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