Case Study 1

Property: Purchase of a residential Nursing Home in Kent

Loan Amount: £338,000.00

The applicant wished to buy a nursing home from some receivers appointed by a mortgagee. We were able to assist in providing the necessary finance to proceed with the purchase. The Contract was conditional upon approval by the Care Quality Commission. We were able to authorise the buyer to proceed to exchange Contracts and await the completion date which was some weeks later. The relevant approval from the Care Quality Commission duly arrived and the purchase was completed. The applicant needed the assistance of a Second Charge to complete the purchase. We agreed to the creation of that charge and to assist the Second Charge lender in registering their security.