…are property backed loans designed for property which is comprised of both residential and commercial elements. They are available for a diverse array of properties and can be used to purchase or remortgage a property.

These loans are generally funded using a commercial mortgage lender and are treated in much the same way as a commercial mortgage. The banner of ‘semi-commercial’ covers a wide range of properties. Any property that comprises of both a commercial element and living accommodation will be classed as semi-commercial.

Some lenders charge lower rates for semi-commercial properties than are charged for fully commercial buildings. Where this is the case, there are sometimes splits in the ratio of residential to commercial space needed to secure the lower rate.

Another point that could exclude your property from being eligible, is where there is a single access to the property, meaning it could only be occupied by a single tenant or business owner. In this situation, some lenders will only lend using their full commercial rates.