A well-established dentist with 4 years’ experience and currently working in a dental practice, popped in to see us.   He owned and ran a sports clothing company.   He intended to purchase a freehold property in a nearby location in which to establish a family orientated dental practice.   He was seeking finance to assist with the £385,000 purchase of the property (conveniently, previously a doctors’ surgery) for which he had £77,000 as deposit. Our task was to arrange £308,000 finance (80% LTV) over a loan term of 15-20 years.

There was available security of a first legal charge over the £385,000 freehold and a first year’s projection showing turnover of £238,000 and trading net profit of £145,000 (before loan services costs or drawings). In addition the client derived an income of £50,000 p.a. from another business. Finally in addition to their cash deposit, our clients had £50,000 to fund the refit to of the subject property.

This collateral and our whole of market experience enabled us to fully finance the arrangement over the term required at 2.25% over Bank Base Rate.