Time to Revisit Your Property Loans
05 October 2016
Following the Bank of England’s further reduction to interest rates in August to 0.25%, is now the time to revisit your property loans?
Many GPs will have historic loan arrangements in place regarding their surgery property at much higher interest rates. In a time where it is also difficult to attract new partners, could an exit from these benefit your practice and ease succession planning? High early repayment charges often deter GPs from reviewing this, but with the possibility of tax and superannuation relief on such charges, could you save by exiting early?
We explore this further in our latest bulletin.