100% finance to buy a second site for your medical practice
- Release wealth from your existing practice
- Cost-effective and tax efficient
- Flexible arrangements
- Use for any purpose
- From 2% above base rate
- Up to 25 years terms
- Interest only or capital repayment
- Buy premises or existing business
- Provide equipment
- Hire Purchase from 6%
- Lease with no upfront costs
- Cover all types of assets
Talk to Rangewell – the business finance expertsBuying a second site and opening up a branch practice might be a way to extend your practice - but it can mean a very large investment. At Rangewell, we can use our contacts across the entire UK lending industry to provide the scale of funding you need.
Would opening a branch surgery practice let you treat more patients? Whether you are a GP or a consultant, at Rangewell, we can help find the answers you need.
Are you a specialist, working as a consultant? Do you run a GP practice with a broad geographical base?
You may find that you have patients who find it difficult to travel to see you.
Opening a branch surgery which might let you work from another location for a few days a week, or which you could set up for a junior partner might be an important step forward for your practice.
Of course, there will be some major costs. Finding suitable premises, refurbishing them and equipping a surgery will all mean major investment. At Rangewell, we work with medical professionals across the country. We can help you use your special status to get up to 100% funding when you want to open a branch practice.
The costs of setting up a branch surgery
You will need a suitable property
You will need a suitable property with appropriate planning permission. A lease may be one answer but, alternatively, you might want to consider a Commercial Mortgage. Commercial Mortgages be used to help you buy a surgery or even an existing practice.
You will need to equip your new surgery
Whether you are a GP or a consultant, there are ways to provide the equipment you need and spread the cost with Asset Finance. It can be the most effective way to get the equipment you need for your reception, consulting room, office – or anywhere else in your practice. Hire Purchase and leasing are both forms of Asset Finance.
Borrowing to buy
There are several types of commercial borrowing which could help you buy, set up and operate a second site. Secured Loans can provide a high level of funding, with rates that can be as low as 2% above base rate, and ten or more years to repay.
Unsecured business loans are a straightforward way of borrowing, and suitable for smaller sums, up to £250,000, but often far less. The loan is repaid in monthly or quarterly instalments over an agreed term under 5 years.
Setting up a branch practice may mean a range of funding requirements. A single funding solution may not fit. We can provide Jigsaw Funding - a package made up of the most appropriate type of business finance for each purpose. So you might have Jigsaw Funding made up of Asset Funding for equipment, and a Secured Loan or Commercial Mortgage to acquire premises.
REAL EXAMPLES OF WHAT WE CAN DO
Help arrange a 100% for a GP setting up a surgery in a remote village
Find a lender to provide a Commercial Mortgage to acquire premises
Help arrange asset finance to equip a surgery
Help arrange jigsaw funding to buy and equip a new surgery
Find the most effective funding for leasing premises
The finance you need to grow your practice with a branch surgery
As a medical professional your special status may make it possible to get 100% finance for your expansion plans. At Rangewell, we know lenders that can help - and which can offer the most attractive rates.
To find out more about setting up the finance you need to grow your practice and open a second branch simply call us. Our experts are ready to help.
Helping you build your profits
Funding tailored to your needsFunding can be drawn together from several sources and tailored to your needs.
Funding that recognises your statusAs a professional practice owner, you may be able to enjoy preferential rates for borrowing.
No need for extra security with Goodwill LoansGoodwill Loans are secured on the future performance of your practice - there is no need to put your assets or possessions at risk.
Ensuring you have the equipment you needAsset finance can help you ensure you can equip your new practice to the standards you want, and spread the cost.
Early repayment optionsSome loan providers will accept early repayments, reducing the total cost of your borrowing.
Cutting borrowing costsAt Rangewell we search the entire UK lending market to find the most appropriate solutions for your funding needs, helping you reduce the costs of your expansion plans.
Download Rangewell’s free and detailed guide to Finance for the Medical Profession
What financing options are there for doctors looking for business finance?
Why not all providers are equal - finding the one that’s right for you
The downsides to finance - and how to avoid them
How to arrange finance - what paperwork do you need?
What funding options do I have for working capital?
Key terms explained
Getting the right funding arrangement is essentialThere are many forms of business finance available. Getting the most appropriate type for the business needs of your practice is essential.
Your key equipment could be at riskIf you are unable to keep up repayments on a hire purchase or lease agreement, the equipment your practice depends on could be could be at risk.
Long-term financial commitmentsYou may not be able to pull out of a finance arrangement once set up.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
In-personSpecialist Finance Experts support you every step of the way.
FreeWe make no charge of any kind when we help you find the loan you need.