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David Stephen Partners Finance Brokers has assisted another first time entrant into the care sector even in the difficult current financial climate.
Cliff Care Homes Ltd have just completed the purchase of Maranatha Care Home in Southend-on-Sea. The home is registered for 15 service users with old age or Dementia care needs.
Stephen Crisp, Partner, comments, ‘We were first approached by Cliff Care Homes some two years ago when they were in negotiations to buy another home that subsequently fell through.’
‘We continued to advise them during their search for other care homes, explaining what would be possible financially on each home, until they agreed a price on Maranatha.’
The healthcare lending market was approached and even in these difficult times, a facility was approved at a competitive margin above Bank of England Base Rate, with other lending features that gave our client the flexibility they required.
Stephen continues, ‘In the current market, knowledge is key in knowing where to place each funding proposition. Banks are changing their criteria frequently and our contacts throughout the banking sector can mean the difference between obtaining high loan to values and base rate lending versus settling for LIBOR linked, inferior terms.’
To see if we can assist you in your next purchase or if you do not think you are getting the best possible deal, please contact us.
David Burrows -
David Stephen Partners
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