Allica Bank has launched care home finance for investors buying or refinancing care and nursing homes.
The bank is now offering finance against selected residential care properties on an investment basis.
The proposition supports experienced landlords investing in residential care and nursing homes, as well as supported living and group homes.
It also extends to properties let to local authorities or housing benefit-funded tenants under commercial lease structures.
Anthony Newman, senior specialist relationship manager for healthcare at Allica Bank, said: “By expanding our proposition to include residential investment, we are opening up more lending options for operators looking to invest and grow.”
In April this year, the bank increased its maximum day one loan size to £15m, extended loan terms to up to 30 years and broadened its Care Quality Commission evidence requirements to better reflect the realities of established healthcare businesses.
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