Together redefines semi-commercial property
Specialist lender Together has reclassified how it determines semi-commercial properties to support even more clients.
Properties will be classed as semi-commercial if up to 60% of their floor space used for commercial purposes, specifically for retail use, an increase from the previous maximum of 50%.
The change, which was introduced on Friday (17 October ) applies to Together’s semi-commercial term products.
Tanya Elmaz, managing director of intermediaries at Together, said: “Expanding our criteria for semi-commercial products not only offers brokers more opportunities to place cases, but also offers clients more flexibility.
“This change opens doors for people who may have found ideal homes to support their businesses but have been struggling to access finance due to the commercial/residential ratio.
“As a business we are always looking for ways to give our customers and broker partners the best possible service, and this move allows us to help more people achieve their property ambitions.”