If you’ve been working as a GP for some time, you may have the opportunity to become a partner and buy into the surgery where you work. If this sounds like you, you’ve likely done your research into the capital you need to raise and the shares you will acquire. The next step is securing the funds to make your next career move a reality.
Our advisors understand the complexities of buying into a GP partnership and purchasing a GP practice. We have built trusted relationships with specialist lenders over the years and can help you get the best deal. What are you waiting for? Get in touch with the Doctors Mortgages Online team today!
Buying into A GP Partnership
For GPs looking to buy into a GP partnership, they often need to secure a commercial loan. The amount you need to invest will be agreed with the other partners in advance and will depend on the partnership’s structure and the building’s value.
Commercial loans don’t have a limit like other bank loans, so you can borrow a substantial amount to cover your buy-in, and you’ll pay it back with your income. For example, if you are buying into a practice valued at £1million, and there will be four partners, you’ll have to raise £250,000.
In the process of securing a commercial loan to buy into a GP partnership, you’ll need to supply account records to the lender and secure life cover. If everything goes to plan, you can be approved in just a couple of weeks. Our team can help streamline the entire process from start to finish.
Buying A GP Practice
The process looks a little different if you are buying a GP practice. The team here at Doctors Mortgages Online can help you secure a commercial mortgage to enable your GP practice purchase.
This is a secured B2B loan, which also involves legal steps.
Our team can be by your side throughout the process to help you secure the funding you need. You’ll need up to three years of business accounts, know whether the property is leasehold or freehold, its value, the notional rent received by the NHS, and how the pharmacy in the building is run (if there is one). We can help you package all this information, along with your personal background, into an application lenders are willing to approve.
Why Use Doctors Mortgages Online?
As a busy GP, you want to know that your application to secure finance for a partnership or buying a practice is in safe hands. Our specialist team of GP partnership experts has the experience to make your application a success and can take the hassle out of securing a commercial loan or mortgage.
7 Reasons Why It Makes Sense To Use Doctors Mortgages
- Our Experience
We have over 20 years of experience in sourcing financing options for doctors that work for them. Whether you need a mortgage to buy your own property or a commercial loan or mortgage to enter into a GP partnership or buy a GP practice, we understand the complexities of your situation and can help you package your application to achieve success.
- Saves You Time
Our team of experts does all the legwork for you. When you provide us with the information we need, we’ll do the rest, from form-filling to submitting the final application. We’ll also handle communication with the lender for you so that you can focus on your work as a GP and your personal life.
- Understanding of GP Partnership Structures
When you turn to us, you can rest assured that we have a deep understanding of GP partnership structures and know what it takes to get your application approved. The result? You won’t waste time by having applications rejected due to misrepresentation or missing information.
- Easy Application Process
As a GP, you’ll have lots of plates spinning at once. Our brokers handle the entire application so you can concentrate on what matters.
- 100% Online Service
Working long shifts can make it difficult for you to find the time to research your options fully. We provide our service 100% online to fit around your schedule, with all communication via email or phone. If you want to meet up with us face-to-face or via video call, we can do so at a time that works for you.
- A Personal Advisor
When you come to us, you’ll be given a personal advisor to guide you through the process of buying into the GP partnership and GP practice process. They will arrange all the paperwork and find the right lender to give you the funds you need.
- Strong Relationships with Lenders
Over the years, we’ve built up strong relationships with lenders that understand the process of buying into a GP practice and partnership. This means that we have the contacts to help you secure the financial help you need to take the next step in your career.
How It Works
If you’re a GP looking to buy into a GP partnership or practice, the Doctors Mortgages Online team is here to help. We have access to bespoke loan options tailored to you and take the fuss out of lengthy application processes, so you can find a solution that works for you in just three simple steps.
- Get In Touch
Contact us via phone, email, or contact form with your details, and we’ll organise a time to chat about your requirements. We are available for meetings at any time, including outside of traditional office hours and at weekends.
- Initial Meeting
Either over the phone or via video call, we’ll get all the information we need to help you find financing options. We’ll also outline the entire process and answer any questions you may have.
- Review Your Options
We’ll get in touch to confirm your options and hand the application all the way through to approval. We’ll help you through all of the steps until your loan is secured.
Get In Touch
Want to know more about how we can help you secure funding to buy into a GP partnership or practice? Contact our professional team today.
