Devon Couple Purchase Residential Home And Retain Staff With Bank Support

A couple from Devon have invested in a care home, securing the jobs of its 21 members of staff and continuing care for the elderly, with the support of Lloyds Bank Commercial Banking.

Court House Residential Home in Cullompton can accommodate 23 residents and was bought by Lorna Turner and Marcus Lyward with the support of a £598,000 loan after the previous owner decided to focus on business interests elsewhere.

As the care home is near full-capacity, the purchase has enabled the residents to keep their home, and the couple are now planning to hire additional staff over the coming months.

Lorna will be looking after the finances of Court House while Marcus, who has more than 25 years’ experience in the care sector and previously owned a residential home for the elderly specialising in dementia care in Cornwall, will oversee the care of its residents.

Although Court House is registered to provide accommodation and care for the elderly, Lorna and Marcus are looking to explore care for those with dementia.

The home features an extension that meets the needs of its residents and encourages those staying to take part in a wide range of social activities and engage with the local community.

Marcus Lyward said: “The purchase of Court House is a very important step for the community here. The fact that our residents will not have to be moved and 21 jobs have been saved as a result is fantastic news, and we’re eager to hire more employees from the local area to continue the care and support that our residents deserve.

“When the opportunity arose to buy Court House, Lorna and I jumped at the chance as we have wanted to run our own care home for a number of years. It provides a much needed service as the older population continues to grow and Lloyds Bank saw our vision for care from the very beginning.”

Clive Rowe, healthcare banking consultant, Lloyds Bank Commercial Banking, said: “Court House really stands out as a comfortable and welcoming place for its residents, so it is rewarding to see that Lorna and Marcus’ hard work and planning has come to a completion and the purchase has been finalised.

“Our healthcare relationship managers have extensive experience of working with businesses in the sector and can offer the guidance necessary to support their growth. Through the Funding for Lending Scheme we offer customers a one per cent discount for the life of the loan.”