11 January 2018 | Care Mortgages

Christie Finance delivers funding for buyer of Hermitage Residential Home in Powys

Specialist commercial finance broker, Christie Finance has brokered the funding for the new owners of The Hermitage Residential Care Home in Welshpool, Powys.

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The home is registered for 33 and the property was originally a detached Victorian style building, which has been extended and remodelled to provide a virtually purpose built facility.

Shyam and Nilesh Patel are the new owners of the care home and are both first time buyers in the sector. Shyam has experience in the care sector having worked as an assistant manager at a home in Plymouth.

Funding was required to help purchase the business and the buyers approached Christie Finance after being turned away by their own bank. Due to the experience they endured with their own lender, they wanted to utilise Christie Finance’s whole of market vision to get the funding agreed as well as the most competitive deal.  Director, Stuart Pawelczyk helped Shyam and Nilesh through the whole process and secured funding though a specialist team at a High Street lender.

Stuart said of the deal, "I was delighted to help Shyam and Nilesh with the funding required to buy The Hermitage. I have helped multiple care home buyers across the Midlands in the last year and secured for them the best funding at the best price to support their acquisitions."