Buy a Dental Practice

The Problem:

One of our recent dental practice sales clients managed to get a whopping 1.1% off their loan interest rate when they bought their first practice! 

Our client approached their own bank before coming to us. Their proposition was to purchase their first practice in London with their wife. 

Their bank was very receptive to the deal and offered to finance 80% of the purchase price over 15 years at a rate of 3.2% above the base rate.

That might sound like a good deal – but it doesn’t sound good to us. 

The Solution:

Our client then approached us to see what if we thought that the deal was a “good one” to us. It didn’t. 

3.2% above base rate is far higher than we usually negotiate for our clients. 

After our own information gathering exercise, we approached several lenders in the UK healthcare finance market – including the clients own bank, who had originally offered the 3.2%.

We achieved offers from multiple lenders we had approached far below the 3.2% original offer. 

The Result:

Through our own information gathering, structuring of the deal and negotiating the price, we managed to achieve a rate of 2.1% above the base rate – a whole 1.1% lower than the original offer.

And this was from the client’s own bank who had originally offered 3.2%!

So, how much did this save our client? That 1.1% saved our client £5736 per year and £86,000 over the life of the loan. Well worth the fee payable to the broker for our experience and work completed on this deal.

The Problem:

We were recently approached by an associate dentist in the North West of England who was having trouble purchasing their first dental practice. 

They told us that they had been trying to buy this practice for some months and had engaged the services of a finance broker who claimed they were healthcare specialists. However, the brokers were unable to source any finance for the client and the brokers had now come back and said to them that he would not be able to proceed with the plans.

The Solution:

Luckily, they found us online and understood that we are independent financial brokers with no ties to any specific lender or sales agents who specialise in the dental sector. 

After our initial discussion, we outlined what information and documentation we would need to approach a wide range of lenders. We could not understand why the original brokers had struggled to source any finance for the client. 

The client explained that we had asked for much more detailed information than their previous brokers and had a far more in depth and comprehensive process for putting a finance application together. 

The Result:

Once we had received the documents and put the application together we were able to obtain 3 separate offers from 3 different commercial finance lenders. The client was then able to determine which offer best suited their situation and goals before proceeding. 

They are now the proud owner of their own dental practice and in our follow up discussions, everything is going fantastically with their new practice!

The Problem:

One of our clients approached us with a plan to purchase a new premises recently. However, they already had a substantial loan with a lender and that loan came with an early repayment charge of 1%. 

To purchase the new premises, they were looking to refinance their current deal and incur the early repayment penalty. 

Luckily for them, they came to us first. 

The Solution:

That particular lender had recently been acquired by another firm and had taken the decision to stop providing new loans in this finance sector. 

We approached the lender with the client and used our knowledge and experience to renegotiate the payment penalty. 

The Result:

We managed to get the early payment charge down from 1% to just 0.25% – saving our client £8,000 on the fee!

Using a commercial finance broker’s experience and knowledge pays off.