Together launches lower rate flexible semi-commercial products
Together has launched a new semi-commercial product range in response to market demand.
The lender’s new semi-commercial loan for landlords and investors starting from 7.99% for a five-year fixed* follows feedback from Together’s valued intermediary partners on rising demand for a bespoke product.
Semi-commercial loans can be used for owner-occupier or investment purchase and refinance for mixed-use properties with the majority of floorspace – or land – used for residential purposes, and let separately from the business premises.
The new products are available for loans secured against a wide range of property types. For example, the security could be a shop or an office with a flat above or a house converted to incorporate a business.
Together will take into account forecasted income and will consider lending to different incorporated structures such as trusts, LLPs, SIPPs and individuals, including first time buyers and non-UK applicants. There is no maximum age limit on self-funding loans.
Tanya Elmaz, director of intermediary sales at Together, said: “We are constantly talking to our intermediary partners about the best way to improve our products and service to meet market demand.
“Traditional landlords are increasingly looking to diversify their portfolios by investing in semi-commercial properties and our latest changes will provide even more options for them to maximise returns, as they adapt to a new landscape of tax and regulatory changes this year.
“The shift towards semi-commercial property investment is providing professional landlords with even greater opportunities to earn higher rental yields than traditional buy-to-let and the ability to capitalise on dual revenue streams from commercial and rental income.
“Together’s semi-commercial loans have been made available for many different types of business uses across a wide range of sectors and will help a growing number of clients achieve their property and growth ambitions as the market continues to evolve.”