Medical Centre Loan

Purchasing a Medical Centre?

The brokers at Mortgage Providers have access to a broad range of lenders that specialise in medical finance. We will find the most competitively priced loan for you and get your loan approved first time and every time!

What can I borrow?

  • Whether you are purchasing a freehold medical centre or purchasing the medical practice business leasehold, you will be able to borrow up to 100% of the value of the property or the business.
  • Loan terms differ; with freehold loans having a maximum loan term of 25 years, whereas leasehold loans are limited to a maximum of 10 years.
  • You may be able to borrow under the low doc policy with some lenders.

Maximum LVR for Medical Centre loan

  • The maximum LVR for a medical centre loan is 100% LVR of the purchase price with a select number of lenders in Australia.
  • Some lenders will also do at 95%LVR or even 90% LVR.
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Am I eligible?

  • You will need to show that you have at least 3 years’ experience working as a qualified GP
  • You may need to show that you have a Medicare provider number
  • Depending on which area or medicine you are practicing in, you will need to provide evidence that you hold current membership with the relevant body within the industry that you are practicing
  • You will need to have a strong financial position with a low debt ratio compared to your assets

How do they value medical practice loans?

  • Where you are purchasing the business, banks will look at the total revenue, gross margin and the wage versus revenue numbers earned by the medical practice
  • Banks will also consider the practice’s overall performance within the current industry environment

What security can I use?

  • Registered mortgage
  • Fixed and floating charge over the businesses assets or the practice itself
  • Guarantees provided by the directors

Banks look favourably on doctors and the medical industry, so there is always competition for your business. Speak to one of our experts to find out how we can help you with getting the best outcome!