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First Time Pharmacy Purchase – Case Study:

Sairah is a qualified dispensing pharmacist with over ten years’ experience. Her employer decided to retire due to ill health and offered her the option of buying their Pharmacy.

The pharmacy had a premium value of the £485,000 with a lease of 14 years.

Naturally, Sairah approached her bank to see if they could help with the purchase. However, they were unable to help due to Sairah not having a deposit of 25% to put towards the purchase.

Sairah was referred to Key Life Financial Services by another Pharmacist. During our first meeting, we completed a full review of her personal and financial standing. Sairah was concerned that not having a deposit would mean she would not get the loan.

We approached a High Street lender who approved the loan by taking a 2nd charge against the equity in her home.

The bank granted a facility over a 14-year term and released funds of £485.000. Having reviewed the accounts, the bank also granted an overdraft facility as well as Invoice Factoring to provide cash flow for working capital.

Sairah was granted a loan of £485,000 which was payable over a 14-year term on a repayment basis. The rate of interest was 2.75%, and the monthly payments were £3,517.

Having assisted Sairah with the purchase of the Pharmacy, we also recommended a range of Life & Income Protection solutions, which would help to repay the debt in the event of long-term illness or disability.