100% finance to buy a second site for your medical practice

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.  

‘Jigsaw’ Finance

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.

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.