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At esbs we know how crucial it is to choose the right mortgage type. If you’re planning to buy a property which will be used in part for a business venture and apply for a regular commercial or residential mortgage then you will face plenty of difficulties. Fortunately, our mixed-used property mortgage service has been offered exclusively for this purpose.

What Is A Mixed-Use Property Mortgage?

A mixed-used property mortgage is a type of mortgage which enables you to purchase a property of mixed-usage, with both residential and commercial elements. It can also be referred to as a semi-commercial mortgage.

At esbs we are able to consider a mortgage for a property which is also to be used for certain types of business activity which can be carried out in a single room such as

  • Hairdressing
  • Dog Grooming
  • Reflexology
  • Physiotherapy
  • Hypnotherapy
  • Beauty Therapist
  • Accountant/Book keeper
  • Seamstress/Tailor
  • Chiropodist
  • Caterer /Cake maker
  • Counsellor
  • Dietician
  • Teaching/Tuition
  • Music Teacher
  • Plus many more similar activities

 

Therefore, if you’re considering purchasing or remortgaging a property with this type of activity in mind then a mixed-used property mortgage from esbs is the right choice for you.

What are the Conditions for an esbs Mixed-Use Property Mortgage? 

– Only a single room may be used for business purposes
– No structural alterations or adaptations are permitted to accommodate the business use
– No employees can work on the premises (except close relatives)
– Any external advertising of its use is discreet and has relevant Local Authority approval, and the Local Authority to confirm no change of use required
– No restrictive covenants on the property preventing business use
– The property’s buildings insurer is aware of and has agreed the incidental use
– Relevant public liability insurance is in place
– Business usage is for our borrower and does not pass with the title to a subsequent owner
– Only 50% of income from the business carried out in the property can be used. Other earned income will be assessed as usual

If you have any questions related to mixed-use property mortgage service from esbs please don’t hesitate to contact us today.

PRODUCTDISCOUNTED
FOR
STANDARD
VARIABLE
RATE (SVR)
INITIAL RATE
PAYABLE
APRCEARLY
REPAYMENT
CHARGE PERIOD
MAX
LTV
BOOKING/ ARRANGEMENT FEE
MIXED USE PROPERTY – SVR LESS 1.05% for 5 YEARS5 years5.59%4.54%
(Collar 2.5%)
5.3%3 years50%£999 Arrangement Fee

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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