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21 June 2017 | Care Mortgages

Two leading Essex care homes refinanced

Christie Finance has assisted an experienced care home operator secure a better-value finance facility for her two residential care homes.

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Penny Pot and Marmora Care Homes in Clacton-on-Sea have a combined registration for 65 and specialise in Dementia Care. Both businesses have had new leases of life under the stewardship of Debbie Carson. The homes are highly regarded by Essex Council, which has led to increasing demand for places.

Debbie Carson has owned Penny Pot since 2006 and Marmora Care Home since 2008, and was looking to move her existing debt to better terms and free up capital to consolidate existing commitments across the board, as well as to continue improving the homes.

Debbie approached Chris Field, Director at Christie Finance, who had helped in the past secure funding for her other businesses.

Commenting on the deal, Chris said, "It is always a pleasure to catch up with a returning client and help their businesses grow even further with competitive funding.

Several lenders are changing their appetite in the care markets, but there are still great rates and terms available that we can call on through our network of contacts."