On any bank funded transaction, a buyer would be required to instruct an independent bank valuation on the practice. The cost for this can range from £750 to £3,000, ex VAT. Typically, your lender will present you with a few options from independent RICS valuers asked to quote for the business. If using any property as security, you will likely incur additional legal costs to have a second charge taken over the property; the cost of this depends on your solicitor but would likely be between £1,000 and £3,000. Further, some banks will insist on a third-party solicitor to represent their interest which will also come at a price! All of these fees need to be factored into deciding the best overall lending proposal – deciding purely based on interest rate could lead to a poor decision.