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MediFinancial - Mortgages & Protection
Mortgages & Protection

Mortgages & Protection for Dentists

Gav Burrows is a mortgage & protection specialist with Creative Wealth Solutions in Derby – Whole of market independent mortgage and insurance advisors.

We are now working exclusively in conjunction with Gav Burrows as our preferred advisor for all mortgage and insurance needs for our MediFinancial clients. Specialising in complex and hard to place mortgages, Gav can help with with a variety of mortgage and insurance needs such as:
  • Mortgage reviews - as you approach the end of a fixed rate that's the best time to get a new deal lined up
  • Remortgaging to allow debt consolidation up to 90% loan to value – clearing loans and credit card debt etc
  • Remortgage of a residential property to release capital for commercial use
  • Using equity in your property to fund home improvement projects
  • Releasing equity to be used as a deposit to purchase a buy to let property or land
  • High loan to income ratio remortgages – access to specialist lenders that can lend up to 6x income
  • Adverse credit mortgages – purchases and remortgages for clients with a poor credit history
  • Income protection reviews – lots of self-employed clients can be either over or under insured due to fluctuating annual income figures
  • Life and critical illness reviews – ensuring clients have the most comprehensive policy available to them
  • Business insurances – business loan protection, key man cover, shareholder protection, partnership protection

Insurance Case Study


In May 2017 I was referred to a Dentist who required a new mortgage facility.

Following an initial review of both the current mortgage and the clients insurances, I discovered that some of the policies were outdated, and since these are regularly improved by a variety of providers this should always be assessed as part of the remortgage process.

Previously the client had been sold an Income Protection Policy that was in excess of what his earnings could support, as typically around 60% of gross personal income is the cover limit with an income protection policy. He was therefore effectively ‘over insured’ and paying for a policy that would not pay out the full benefit amount if he ever needed to make a claim. In simple terms the client was paying too much for a product that was not fit for purpose.

I provided him with a new Income Protection Policy that is aligned with his current income as per his SA302 figures, and also upgraded his Life & Critical Illness policy to a more comprehensive cover for him and his family.

Complex Mortgage Case Study


A Dentist was referred in relation to a £465,000 remortgage of his private property located in Leeds.

The client wanted to raise an additional £55,000 for some home improvements.

My client is self employed via a limited company structure and therefore a statutory director.

Following a tax adjustment from the company accountant the profitability of the business had been depressed which made the remortgage a challenge.

The client had been informed by another advisor that the remortgage with an additional advance was not feasible under these circumstances.

Thankfully having access to the whole of market for mortgage lenders and understanding each of their lending criteria, I was able to place this case with a lender who had a commercial long-term view of business and the funds were secured.

DISCLAIMER:
GB Online Mortgages is an information website exclusively for Mortgage Advisor Gavin Burrows who is an advisor at Creative Wealth Solutions ltd. Creative Wealth Solutions ltd is an appointed representative of Asset Independent Financial Advisors Ltd which is authorised and regulated by the Financial Conduct Authority under number 139062. Creative Wealth Solutions - FCA registered under number 481676 Registered Office - The Old Gas House, Darley Abbey Mills, Derby, DE22 1DZ

YOUR MORTGAGE IS SECURED AGAINST YOUR HOME AND IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS.

General Buyer Terms

This agreement is in relation to MediEstates Limited whose registered office is at 1st Floor, Pacific House, Stanier Way, Wyvern Business Park, Derby, DE21 6BF acting for and on behalf of our clients ("the Vendors"); and yourself (Buyer's Name) in relation for an introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. Definitions
    In this Agreement the following terms and phrases shall have the following meaning unless the context otherwise requires:

    Business
    Dental Practice business providing dental care. This business is under the MediEstates Ltd sale terms.
    Confidential Information
    Means the actual Vendors identity and all confidential information in respect of the Business, including, but not limited to, any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employees’ details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor’s relationships with actual or potential clients or customers and the needs and requirements of such clients’ or customers’ operations.
  2. Obligation of Confidentiality
    The Prospective Purchaser agrees to treat as confidential, information supplied by or on behalf of the Vendor in connection with the sale of the Business.
  3. Exclusions
    The obligation of confidentiality set out in clause 2 does not apply to:
    1. any information received from a third party who was legally free at the time of disclosure to disclose it;
    2. any information which was already lawfully in the Prospective Purchaser’s possession prior to receiving it from MediEstates Ltd on behalf of the Vendor; and
    3. any information which is in its entirety already in the public domain.
  4. Duties of Prospective Purchaser
    1. The Prospective Purchaser shall take such a reasonable security measures to protect the Confidential Information and trade secrets.
    2. The Prospective Purchaser shall not, without the prior written consent of the Vendor, permit any of the Confidential Information:
      1. to be disclosed, other than in confidence to its legal or professional advisors;
      2. to be copied or reproduced;
      3. to be commercially exploited in any way;
      4. to be used for any purpose other than in connection with the prospective purchase of the Business;
      5. MediEstates is registered under the Data Protection Act 1998. Upon Signing this agreement you agree to follow the legal obligations of this act to protect the details of the information supplied to you, with it no to be passed outside of the control of you the prospective purchaser.
    3. The Prospective Purchaser agrees to keep a record of Confidential Information received.
    4. The Prospective Purchaser will return to MediEstates or the Vendor all documents containing Confidential Information and all copies of those documents on demand at any time which are in its possession or under its control, and for this purpose the term “documents” includes computer discs and all other materials capable of storing data and information. The Prospective Purchaser agrees that such documents remain the property of the MediEstates on behalf of the Vendor.
    5. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    6. The Prospective Purchaser must not contact the Local Area Team or CCG regarding any practice sale, by any means of media unless written permission is granted from the Vendor.
    7. To carry out own due diligence on practice purchases and accepts that any information MediEstates has supplied is information provided by the vendor and is not responsible for its accuracy or completeness.
  5. This Agreement
    The existence of this Agreement and its terms are confidential and neither MediEstates nor the Purchaser may disclose anything about this Agreement or its subject matter or implementation to any person other than in confidence to their legal or professional advisers.
  6. Duties of Prospective Purchaser
    When buying Dental practices, finance is normally needed. Our organisation operated over more than one of the MediHoldings brand, by completing this from you agree that the information can be shared to our other organisations to avoid the need to register independently and provide the best possible service.

    MediEstates will refer you to the specialist dental lending team and MediFinancial who will contact the necessary banks, whom have preferential healthcare lending rates in some cases, to ascertain which funding is available to you.
    By signing this agreement you do not have to use any of the banks MediFinancial contact, it is just another service which we provide.
  7. Deposit for Dental Practice
    If you are interested in putting forward a formal offer in for a practice, once the offer is accepted there will be a deposit required to secure the practice sale which is dependant of the practice size. This deposit is held in a client account and will be returned to the buyer on completion of the practice sale. You the buyer, will be required to sign a deposit schedule which will cover the buyer and the seller in the event that the practice sale does not proceed.
  8. Changes to this Agreement
    Any changes made to this agreement must be authorised and signed by one of MediEstates Ltd Directors.
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