SEMI COMMERCIAL FINANCE
Blurring the lines between residential and commercial mortgages
Semi commercial mortgages are the equivalent of a mortgage/buy to let mortgage but secured against a property which has a mix of residential and commercial units.
It may be as simple as a house that has previously been converted into a shop on the ground floor and flat above it. It may be a towering block of student accommodation with 100 student flats in the block, but a gym, a supermarket and a coffee shop on the ground floor.
How lenders assess these will differ, and it is important to understand the split of income; residential income and the AST’s behind them, and the lease profiles of any commercial tenants.
This may be purchased in a limited company, individual name or a pension.
Whether you’ve done your research and just want to make sure you’re not missing a trick, or your situation is more complicated and you don’t know where to start, contact us today and let us help you.
‘Depending on your circumstances in this application, this may or may not be an FCA regulated product. Node will advise you prior to application whether it falls under FCA regulation or not’
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