Top Tips for Buying

  • Don’t be afraid to shop around for finance. We can refer you to banks and excellent IFAs who will do all the hard work for you,  sourcing & reporting back the best deal for YOU – usually with a home visit to save you a lot of time  hassle
  • Be prepared to have a minimum of 15% deposit ready for any lending application & prepare “clean” bank statements for the past three months
  • Put together a good CV for your lender as the content of this will be a key factor in your lending being approved (In other words don’t be modest!).  Detail to include all qualifications, clinical experience, administrative & any managerial experience
  • Be prepared for any practice purchase to take between 6-9 months as the market is experiencing lengthy delays with the PCT’s & CQC requirements
  • Be aware if you are using the EFG Scheme to finance you, when buying a practice, of the different lending tariffs of the banks put in place, (rates & fees) so  it’s worth making sure you are fully understanding of the offer
  • Make sure you have the very best support in place for your new practice.  At LHPS we can refer you to excellent dental insurers, accountants and solicitors to hold your hand through the maze of buying and owning
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