Our healthcare team have put together a significant number of lending packages over the years enabling doctors to “buy into” GP Surgeries and on a number of occasions, practice pharmacy.
These deals used to be seen by most lenders as a fairly straight forward transaction.
Currently however, lenders are no longer so keen to lend to GP’s for what is often stand alone finance (that is without the benefit of the practice bank account and or security over the practice premises)
Most lenders will now seek personal security from doctors behind any lending.
Sterling’s strong links with all the specialist funders means that we are still able to broker excellent stand alone unsecured finance for most GP’s and on extremely competitive terms.
In arranging finance Sterling do not generally ask doctors to pay us for our work as we would expect to be paid by the lenders out of the standard arrangement fees they charge. However if a lender is not able to pay us we would look for a fee of 0.5% of the arranged advance.
We are pleased to say that to date we have never had to ask a doctor for payment.