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Semi-Commercial Mortgage

Property Case Studies

The Client

Our client is an experienced landlord with a mixed portfolio of residential and commercial properties. The client owned a semi-commercial property in a sea side town, consisting of a retail unit on the ground floor and three serviced-accommodation units on the first floor.

The Case

The property was owned unencumbered, where there was no outstanding loan against the asset. The client sought an equity raise against the property and wanted to refinance the building as a whole. A solution was required that would encompass both the commercial and residential aspects.

This posed an issue as many lenders avoid short-term lets, particularly where the property is mixed-use and includes holiday lets. An additional obstacle for this case was that one of the residential units was small at under 30 sq. ft. A number of lenders will not consider financing a property of this size.

Our commercial team had to source a lender that would take a flexible approach to these factors.

The Solution

The team sourced a semi-commercial mortgage for £200,000 at 4.9%, interest only, fixed for 5 years. Opting for a fixed rate product gave the landlord certainty in the current market over future income and profitability.

The client was able to release equity form this investment in order grow their portfolio

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