Sector expertise · Practices, clinics & investors
Commercial mortgages for GP surgeries, dental practices, pharmacies, clinics and other healthcare premises are assessed on the practice as much as the property. Lenders focus on trading accounts, the mix of NHS and private income, regulatory standing and the clinicians' experience — with lenders offering up to 80% of value for established healthcare practices, and in some cases higher for GP surgeries.
At a glance
Figures reviewed:
Indicative figures for guidance only, correct as at October 2026. Rates, costs and timelines vary by lender, borrower profile, asset and jurisdiction, and are not an offer of finance. Rates and terms use approved illustrative ranges, not live lender rates; a specialist confirms any product in underwriting. How we derive these figures.
A healthcare commercial mortgage is secured on premises used by a healthcare business — a GP surgery, dental or veterinary practice, pharmacy, physiotherapy or private clinic. Because the premises are often specialist, lenders underwrite the practice's trading performance as closely as the building: accounts, NHS and private income, regulatory standing and the experience of the partners or directors. Practices buying their own premises use owner-occupied commercial mortgages; landlords buying premises let to a practice use commercial investment facilities. Clifton International arranges both as an introducer, not a lender.
Reviewed by James Caldwell, Director, Clifton International.
Content review: 27 October 2026.
Last updated Content update only. Illustrative rate ranges are reviewed separately on the commercial mortgage calculator.
Yes. GP partnerships buying or refinancing their surgery are among the strongest healthcare cases because NHS notional rent can support the borrowing. Established practices can borrow up to 80% loan-to-value, and in some cases higher for GP surgeries.
Yes. Lenders look at the NHS and private patient mix, associate and hygienist arrangements and the fit-out. Established dental practices can borrow up to 80% loan-to-value, subject to accounts, income and the property.
Yes. Pharmacy finance is assessed on dispensing income, the NHS contract and location. Purchases often combine premises and the business, so how the price splits between property and goodwill matters.
Yes. Veterinary practices are assessed on private client income, trading history and the specialist premises. There is no NHS income, so accounts and client loyalty carry more weight.
Yes. Physiotherapy, aesthetics and other private clinics are assessed on trading accounts, regulatory standing where applicable and the premises' alternative-use value.
Six factors drive most healthcare lending decisions. Strengthening these before an application usually matters more than shopping for a headline rate.
Two to three years of accounts are usually required. Affordability is assessed on the practice's trading profit and cash flow rather than the partners' or directors' personal income alone.
Lenders weigh the mix of NHS contract income and private patient fees. Long-standing NHS contracts can be viewed as dependable; lenders still check renewal dates and concentration on a single income stream.
CQC registration in England — or the relevant regulator elsewhere in the UK — and any recent inspection findings feed into the risk assessment for regulated healthcare businesses.
Qualified clinicians and established management teams are viewed favourably. Lenders consider partnership agreements, succession planning and how dependent the business is on one individual.
Purpose-built surgeries, dental fit-outs and clinics can be specialist assets. Valuers consider the alternative-use value, planning use class and how easily the property could be re-let.
Groups with several sites can sometimes secure borrowing on one property supported by group cash flow, leaving other premises unencumbered for future flexibility.
Established healthcare practices can borrow up to 80% loan-to-value, and in some cases higher for GP surgeries, compared with around 75% for standard commercial property. Three factors drive this.
NHS contracts and long-established patient lists give many practices income that holds up better than general trading businesses in a downturn.
For GP surgeries, NHS-reimbursed notional rent reduces the vacancy and tenant-default risks a lender would usually price in.
Underwriters assess the practice's operating cash flow (EBITDA) alongside the property value, so a strong practice can support more borrowing than the building alone.
Standard commercial property
Typical maximum LTV: Around 75%
Driver: Occupancy and general trading risk
Care homes
Typical maximum LTV: See our care home mortgages guide
Driver: CQC rating, occupancy history and EBITDA serviceability
Established healthcare practices (dental, pharmacy, clinics)
Typical maximum LTV: Up to 80%
Driver: Dependable NHS and private income and the practice's trading record
GP surgeries
Typical maximum LTV: Up to 80%, and in some cases higher
Driver: NHS notional rent supporting the borrowing
The actual loan-to-value depends on the practice's accounts, income and the property, and is confirmed by the lender.
Notional rent is a payment NHS England (or the equivalent body in Scotland, Wales or Northern Ireland) makes to a GP practice that owns its premises, covering the rent the building could command if let. It is set by an independent valuation, usually by the District Valuer, and reviewed periodically. Because it is paid under the practice's NHS arrangements, lenders can treat it as dependable income towards mortgage payments, which is a key reason GP surgeries can sometimes borrow above the 80% available to other established practices.
The lender values the building and lends against it as a commercial mortgage. Simpler to underwrite, but the price excludes the business and its patient list.
Part of the price reflects goodwill. Some lenders will lend against the combined value where the practice's cash flow supports it; others lend on the property only, with goodwill funded by a deposit or a separate business loan. Agree the split between property and goodwill early, as it shapes the loan available.
| Consideration | Practice (owner-occupied) | Investor (let to a practice) |
|---|---|---|
| Who borrows | The practice or healthcare business buying or refinancing the premises it trades from | A landlord buying healthcare premises let to a practice or operator |
| Illustrative rate range | 6.5%–8.5% (owner-occupied commercial) | 7%–9% (commercial investment) |
| Typical maximum loan-to-value | Up to 80% for established practices; in some cases higher for GP surgeries | Lower, driven by rental cover, lease length and tenant strength |
| What lenders assess | Practice accounts, NHS/private income mix, regulatory standing and clinician experience | Lease terms, the tenant practice's covenant and rental cover |
| Common structures | Partnership, limited company or pension (SSAS/SIPP) with guarantees | SPV or company borrower with a charge over the property |
Who borrows
Practice: The practice or healthcare business buying or refinancing the premises it trades from
Investor: A landlord buying healthcare premises let to a practice or operator
Illustrative rate range
Practice: 6.5%–8.5% (owner-occupied commercial)
Investor: 7%–9% (commercial investment)
Typical maximum loan-to-value
Practice: Up to 80% for established practices; in some cases higher for GP surgeries
Investor: Lower, driven by rental cover, lease length and tenant strength
What lenders assess
Practice: Practice accounts, NHS/private income mix, regulatory standing and clinician experience
Investor: Lease terms, the tenant practice's covenant and rental cover
Common structures
Practice: Partnership, limited company or pension (SSAS/SIPP) with guarantees
Investor: SPV or company borrower with a charge over the property
The table above is also available as the cards shown here.
An illustrative scenario using the mid-point of the approved owner-occupied commercial range and a 2% arrangement fee. This is an illustrative example, not a quote or an offer of finance; the rate a lender offers comes down to the loan size and the risk profile of the business, confirmed in underwriting.
A GP partnership buying its surgery, supported by NHS notional rent, borrowing at the 80% available to established practices. Same illustrative rate and fee basis; not a quote or an offer of finance.
Try your own figures for GP, dental, pharmacy or clinic premises. Up to 75% loan-to-value is allowed, rising to 80% when you select Established practice.
Indicative monthly payment
£6,766.98
Illustrative only, not a quote or offer of finance. Uses the mid-point of an approved lender-neutral range; the rate a lender offers depends on loan size and the business's risk profile, confirmed in underwriting.
Proof of delivery
A multi-site healthcare business with offices in London, Birmingham and Bristol refinanced £2m over 15 years with a single charge on the London property, leaving the other two offices unencumbered. This case is summarised from Clifton Private Finance's published account — it is not a Clifton International transaction, and its historical rates and fees are intentionally not reproduced.
£2m commercial mortgage · 15-year term · single charge on the London property
Clifton Private Finance’s January 2025 account reports a £2m owner-occupied commercial mortgage refinancing for a healthcare business operating from multiple UK sites: existing portfolio debt was consolidated into a single facility secured on the London property, leaving two offices unencumbered.
These are reported outcomes for the clients concerned. Lender criteria and individual circumstances vary, so the same result is not guaranteed. Property images are illustrative and do not show the clients' own homes.
Yes. Healthcare commercial mortgages are available to GP partnerships, dentists, pharmacists, vets, physiotherapists and private clinic operators buying or refinancing the premises they trade from, and to investors buying healthcare property let to a practice. Clifton International arranges them as an introducer, not a lender.
Owner-occupied healthcare premises are financed at up to 80% loan-to-value for established healthcare practices, and in some cases higher for GP surgeries — above the usual commercial maximum of around 75%. The actual loan-to-value depends on the practice's accounts, income and the property, and is confirmed by the lender. Loan sizes usually start around £250,000. Investment purchases let to a practice are typically assessed at a lower loan-to-value driven by rental cover and lease terms.
Lenders look at two to three years of practice accounts, the stability of NHS contract or private patient income, regulatory standing (such as CQC registration), the partners' or directors' experience, and the property itself. The rate a lender offers comes down to the loan size and the risk profile of the business, confirmed in underwriting.
Often, yes. Long-standing NHS contract income and, for GP surgeries, notional or reimbursed rent can be viewed as dependable income. Lenders still review contract terms, renewal dates and how much of the practice depends on a single income stream.
Sometimes. Where one property and the group's trading cash flow comfortably support the borrowing, a lender may take a single charge and leave other sites unencumbered, preserving flexibility for future finance. Our healthcare refinance case study shows this structure in practice.
Illustrative rate scenarios approved by Clifton International run from 6.5% to 8.5% for owner-occupied commercial property and 7% to 9% for commercial investment; healthcare premises sit within these ranges depending on the strength of the case. These are illustrative scenarios, not live lender rates, and no lender is named. The rate a lender offers comes down to the loan size and the risk profile of the business, confirmed in underwriting.
Yes. Partnerships, limited companies and SPVs are all common borrowers, and some practices hold premises in a SSAS or SIPP pension. Lenders usually take personal guarantees from partners or directors and need the structure confirmed early because it affects the documents and security required.
Notional rent is the amount NHS England (or the equivalent body elsewhere in the UK) reimburses a GP practice for occupying premises it owns, based on an independent valuation of the rent the building could command. Because it is paid under the practice's NHS arrangements, lenders can treat it as dependable income towards the mortgage, which is one reason GP surgeries can sometimes borrow above the 80% available to other established healthcare practices.
Sometimes. When a practice is bought as a going concern, part of the price reflects goodwill rather than the building. Some lenders will lend against the combined value where the practice's cash flow supports it; others lend on the property only, leaving goodwill to be funded by a deposit or separate business loan. How the price is split between property and goodwill should be agreed early because it shapes the loan available.
Often, yes. Incoming partners or associates buying a share of a practice and its premises can sometimes borrow against their share, supported by the practice's accounts and partnership agreement. Lenders review the agreement, the existing borrowing on the premises and how profits are shared.
Yes. Many applicants are clinicians buying their first premises after renting. Lenders focus on the practice's trading record, the clinicians' experience and the deposit; a first purchase is not a barrier in itself, though a longer trading history usually strengthens the case.
Clifton International is an introducer, not a lender. Illustrative rate scenarios are approved ranges, not live lender rates, and no lender is named. Property may be repossessed if mortgage payments are not maintained. Read our care home mortgages guide, UK commercial property finance guide or compare commercial finance in Spain and the UK.
