Osteopath clinic purchased via a trading limited company

We were approached by a married couple who have been successfully running an osteopathic clinic within a small rental property since 2004.

The business had started to outgrow their current premises, so they were looking to purchase a larger one in order to expand.

They had set their sights on a disused social club in their village.

The property consists of an open plan reception area, five potential treatment rooms and parking facilities.

The clients wanted to purchase the property via their trading limited company and were keen to get a loan term mortgage that would run for the complete term of the loan, meaning they would not need to refinance in the near future.

We approached a well-known high street bank that has a reputation for completing commercial mortgage applications very quickly.

The bank offered a competitive term tracker which was acceptable to the couple.

The mortgage application was submitted at the beginning of the year and completed late February.

Here are the details of the deal:

Property value: £500,000

Loan amount: £375,000

LTV: 75%

Rate: 3.40% (2.90% over BBR) term tracker

Term: 25 years capital and interest

Lender arrangement fee: Nil

Mortgage payment: £1,857 pcm

Consultant: Andy Elley, 01732 471644


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