Working space is limited in many medical practices and this may necessitate internal reorganisation, building extensions or even practice relocation.
Vector Finance advises on how best to fund this type of project. This may involve a joint borrowing plan with a customer’s own bank and actually sharing the borrowings as part of an overall jointly syndicated package. In many cases banks actually prefer this type of arrangement and may look more favourably at applications that are presented in this way.
All the costs must be separated to ensure the best taxable benefits are in place to cover all specialist equipment and work carried out. Experienced finance brokers can help in this regard by using a blend of tailor-made finance, unsecured loans, HP and leasing. It is quite feasible to arrange completely unsecured building and refurbishment loans in excess of £300,000.