Scottish GP Sustainability Loan Scheme

If you missed the 12 December 2018 deadline, then don’t worry £10 million of funding will still be available in 2019/20 and 2020/21.

All Scottish GP practices who own their own premises are eligible to receive an interest free secured loan from their Health Board. The value of the loan is up to 20% of the value of the premises.

The aim of the scheme is to reduce the risk of premises ownership and is designed to support the model where Scottish GP contractors are no longer required to provide their premises.

£30 million of funding has been provided up to 2021, so the scheme will initially run for 3 years, starting in the current year 2018/19.

There are priority categories to which the funding is being allocated, which are based around where borrowing costs are greater than the financial assistance (notional rent) received from the Health Board; departure and/or recruitment of partners and other urgent sustainability challenges.

The loans can be used in conjunction with existing loans, but the 3rd party loan must not be more than 80% of the value of the premises. If this is the case then the new sustainability loan can be used to repay an all or part of an existing loan to reduce it to no more than 80% of the property value.

The loan will be repaid when the premises are sold or stopped being used by the GP contractor.

More detailed information is available here.

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Jan 23

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