| Funds are
available for purchase, development or refinance of Day Nurseries
via our recommended finance brokers Chandler
& Co. It is recommendable to speak to your financial adviser before
you begin your search as the level of finance available on a Day Nursery
business does vary greatly, and depends on numerous factors:- |
|
Tenure – Is the business Freehold or Leasehold?
Leasehold businesses can be financed but the terms of the lease have to
be examined. |
|
Premises – location, size, facilities, construction.
|
|
Profitability – lenders will assess the stability of
the business, accounting records and whether you can comfortably afford
to cover the mortgage payments. |
|
Your Business and Child Care Experience – A suitably
qualified and experienced Manager will be required. You will be expected
to demonstrate a sound business or Care Background. |
|
| Purchase of Going Concerns |
|
You will require a minimum deposit of around 25-30% of the
purchase price and additional money to cover buying costs such as Stamp
Duty.For details on how stamp duty is calculated
click
here |
|
| Start Ups |
|
With the right experience and a good business plan finance
is available for people who wish to start up a Day Nursery.
Finance can be obtained to cover up to 75% of the costs of a new build
or a suitable property. Once the business is up and running further money
can be released up to 75% of the value of the established business. |
|
| Refinances |
|
Funds for refinances are available up to 75% of value.
Existing owners can switch their borrowings into a commercial mortgage
from rates as low as 1.25% over Bank Base. |
|
|
