AMOUNT
Minimum £50,000
 
MAXIMUM
Below 10 registrations up to 85% of open market vacant possession value (ERRP) 70% of open market trading valuation (ERP)

INTEREST RATE
Variable from 1.5% over bank base

TERM
Up to 25 years

SECURITY
First charge over freehold or long leasehold residential care and nursing homes

FEES
Lenders fee typically 1% of advance
Borrower to pay lenders legal and valuation fees

NOTES
In all cases it will be necessary to show the applicants ability to operate the business successfully. Historic trading accounts and projections for the business will be required
These details apply only to owner occupied freehold and long leasehold only.
Where tenants are purchasing at discounted prices special schemes are available

© Lextel Services To Industry Llimited 2004