ABSTRACT
The specialist independent financial advisor (IFA) reviews the total market and offers the doctors the best choice of loan available at any one time without having any vested interest in that choice. There are three main types of mortgage available in the market place, namely: capital and interest repayment mortgage; interest only mortgage; and evergreen mortgage. A capital and interest repayment mortgage does not automatically provide life insurance. Capital holidays and evergreen loans are not always on offer from all lending sources and may have to be specially negotiated to fit each practice's circumstances. A fixed rate provides stability when interest rates are fluctuating and enables the practice to plan other financial commitments without the worry of an increase in existing outgoings. Where reimbursement is paid on a notional rent basis the practice can fund the project by borrowing on either a fixed or a variable rate basis or any combination of the two.
