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Banks have always been comfortable in lending up to 80% of the goodwill and 100% of the freehold premises value.
- Business Purchase
For a strong business – experience operator –up to 80% LTV should be achievable – lenders may want security if just business purchase
- Freehold practice premises
- Combined business equity and freehold premises
View appears to be that 80% LTV should be achievable for experienced operators and a mixture of the above depending on strength of the target – having said this we are aware of lenders who will look at up to 90% LTV for combined purchase
- Whilst lenders appear to have a policy limit on the unsecured element we have seen very significant unsecured funding for the right target right business and right client
- Max term 15 years for unsecured business purchase – up to 25 years for freehold and 20 yrs for combined
Nick brings over 20 years’ experience in banking having worked at HSBC, 15 of which have been in Commercial Banking supporting local businesses and professionals
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EMPO is the leading residential landlord association in the East Midlands. This established association has been providing support and representing member’s interests since 1942.