At Veracity Financial Planning, we work with the whole of market, meaning we aren’t restricted to the lenders that we can use. This allows us to find the best deals on the market for our clients.
We provide bespoke advice and solutions for each of our clients, everyone’s circumstances are different which requires a personalised review of our clients’ situation and plans.
A semi-commercial property in essence is a property that has both commercial and residential elements. It could be a restaurant or shop with a flat above or a row of retail shops with multiple apartments above.
In order for a semi-commercial mortgage to be regulated then the property must have at least 40% residential dwelling space, although this would not stop lenders from being able to provide finance, it would just be on an unregulated basis.
As with commercial mortgages you are able to have an owner-occupied mortgage or an investment mortgage. Lenders will assess your rental income on the whole property (both commercial and rented residential space) or assess you off your EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) – Essentially how profitable you/your company is, how sustainable the income is, any other assets and liabilities.
Finance is available from £25,000 up to and beyond £25 million.
We have access to an unrestricted network of over 500 lenders who can provide finance for all different types of properties, terms and provide the best rates on the market.
We have seen rates starting from under 4% and can sometimes provide bespoke rates and terms for individuals looking for finance over £1 million.
The process of refinancing your semi-commercial property works in the same way that arranging a new commercial mortgage would. You may be able to release some equity from the security to fund a new investment or business project or to conduct minor refurbishments on the property.
Here at Veracity, we can secure finance for most scenarios, including semi-commercial & commercial mortgages, regulated and unregulated bridging loans, high-value residential mortgages and Buy to let mortgages and Development Finance. We have an unrestricted network of over 500 high-street, specialist and private lenders who can offer our clients the best deals on the market.
We will negotiate terms and rates for your finance needs, in some cases, lenders will offer us bespoke deals for our clients depending on the type of deal and the individual’s circumstances. Our advisers will work with you to find the most appropriate deals and explain to you any potential risks involved as well as the benefits.
Your adviser will work on your behalf to submit any necessary paperwork needed to apply for the chosen deal and ensure any of your questions are answered in a timely manner.