GP Finance

We have a specialist team dedicated to helping our existing practices with their financing needs. One of the team will work with you, confidently guiding you through a new application or alteration. We recommend you speak with us first to discuss your requirements.

Our lending terms

The following guidelines will help you assess whether your proposal fits our current lending parameters:

  • New loans are only considered where an existing relationship exists with the practice.
  • We lend against owner occupied doctors surgeries, with three or more partners practicing at the property.
  • We lend a minimum of £50k.
  • Our minimum loan term is 5 years.
  • We typically offer loans up to 85% of the property value on a capital and interest repayment basis only. An up to date valuation undertaken by a member of our panel valuers will be required.
  • Interest will be charged at a fixed rate, using Gilts as a benchmark. Please contact us for more information.
  • Loan service payments should be fully covered by rent reimbursement income received by the practice.

Interest Rates

We offer fixed rate lending. For details please contact us.

Applying for further finance - our process

Completing the Application Form

We will need you to fill in the Application form. Please send the completed form to the GP Finance Team, Aviva Commercial Finance Ltd, PO Box 21, Surrey Street, Norwich, NR1 3NJ, together with:

  1. written confirmation from NHS England/Health Board of the cost/notional rent reimbursement received
  2. the most recent valuation of the property that you hold
  3. certified practice accounts for the last three accounting years; and
  4. details of any grants available, together with the terms and conditions attached to these

Underwriting your Application

A member of our panel of surveyors will be instructed to provide us with a valuation report on the property. Please note that you will be responsible for all fees in this respect, even if your application is not successful. Once we have received your application form, panel valuation and supporting documents, we will assess your request. If your application is approved a formal loan offer will be made along with any appropriate conditions which will be valid for a period of two months.

The Loan Offer

Upon receipt of the signed acceptance and payment of the arrangement fee we will instruct our panel firm of solicitors TLT LLP to act on our behalf and to liaise with your solicitor to progress matters. Please note that you will be responsible for all costs incurred in this respect.

The Legal Process

Our solicitors, TLT LLP, will draft the requisite legal documents and will liaise with your solicitors for signature of the same. We will be notified once all legal matters are satisfied and once we are in a position to complete the transaction. The advance of monies is made upon completion of the legal work, subject to the loan conditions being satisfied. If you do not complete the loan within the 2 month offer period, we reserve the right to review/revise or withdraw the terms previously offered.

Applying for an Existing
Mortgage/Property Alteration - Our Process

We understand that your requirements may change during the course of your mortgage. Any alterations to your mortgage will be subject to our underwriting approval and we will consider any requests to change the terms based on your specific circumstances. If your request results in a negative impact on the loan/portfolio, we may insist upon certain conditions being met in order to proceed. A valuation may be required from a member of our panel of surveyors.

Completing the Alteration Form

We will need you to fill in the alteration form. Whatever your alteration, please complete Sections A, B, C and D, and sign Section I. Items to enclose with your alteration are detailed in Section H. Please send the completed form to the GP Finance Team, Aviva Commercial Finance Ltd, PO Box 21, Surrey Street, Norwich, NR1 3NJ, together with:

  1. written confirmation from NHS England/Health Board of the cost/notional rent reimbursement received
  2. the most recent valuation of the property that you hold
  3. certified practice accounts for the last three accounting years; and
  4. details of any grants available, together with the terms and conditions attached to these

Please note that administration fees apply and these fees vary depending on the alteration.

Assessing your Alteration

Once we have received your completed form, costs and supporting documents, we will assess your request and contact you with our decision.

The Legal Process

You will need to instruct solicitors to act on your behalf. We will instruct our panel firm of solicitors, TLT LLP. They will draft the requisite legal documents and liaise with your solicitors for signature of the same. We will be notified once all legal matters are satisfied and once we are in a position to complete the transaction. Please note that you will be responsible for all costs incurred in this respect.

Anti Money Laundering Regulations

We may need to verify your identification as part of the application or alteration and supporting documents may be required. We will advise you/your solicitor of our requirements.