Semi-Commercial Mortgages

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Why Choose Us

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5-star reviews on Google
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years we have been as independent mortgage and protection brokers
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customer satisfaction for finding the best deals on the UK market
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total donated to various charities

Why Choose Us

0 %
5-star reviews on Google
£ 0
total donated to various charities
0
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market

Semi-commercial mortgages are available for people who want to buy a property which has both residential and commercial elements. Property consisting of mixed use would typically be pubs with a self-contained residential living area, flats above shops, guest houses with owners accommodation, HMO’s with a retail unit and holiday parks with residential accommodation.

Semi commercial mortgages are available for both freehold and lease hold properties. Generally lenders will lend up to 65-70% with a maximum of 75% of the purchase price or value, however if the applicant has equity in other property(s) some lenders will consider this as additional security and may potentially lend up to 100%.

What Our Clients Say About Us

5.0 Based on 139 reviews from review us onEric T. ★★★★★ We have dealt with Ascot Mortgages twice. Once for a mortgage about eleven years ago and recently for life insurance.In both cases we were treated with the utmost respect and professionalism.In the case of the life insurance application, we considered ourselves to be problem customers because of our age and numerous health issues.Richard Johnson, who managed this application couldn't have been more helpful.He worked in our best interest and was dedicated to providing an excellent service.We were kept up to date through all of the stages of the application and when our doctors were very slow in producing medical reports for the insurance company he persisted where others might have given up.The service we had from Richard was pleasant and professional throughout some difficult stages.My wife and I have no hesitation in recommending Ascot Mortgages.Zack R. ★★★★★ Having dealt with Ascot Mortgages and Alison for many years now I can say that you wont find a more professional, knowledgeable and efficient company to help with your mortgage. Alison is patient and makes the whole process seem easy. She has the answer to any question you have and seems to genuinely care. I can not recommend enough. I am sure I will be using Ascot Mortgages for years to come.Umair Z. ★★★★★ It has been a fantastic experience to work with both Phil and Jardelle at Ascot Mortgages to secure a mortgage product for my first home. Phil made the mortgage process smooth and easy. They are professionals and know what they are doing. Very pleased with the service and communication. would highly recommend them.Hello at NLP West M. ★★★★★ I needed a buy to let re-mortgage. Ascot were efficient from start to finish. I can recommend them completely especially because they can search the whole spectrum of mortgage lenders and meet the clients needs. never waiting for staff to get back and always kept me in the loop.Onohomen O. ★★★★★ ZHOU J. ★★★★★ It has been a brilliant experience to work with both Phil and Jardelle at Ascot Mortgages to secure a great mortgage product for our next home. Given how challenging the current market is, they have done a fantastic job to meet our needs with their expertise, professionalism and effectiveness. We would highly recommend their services to whom seeks help with their property purchase.Nicholas S. ★★★★★ Fantastic service. Ellie and Jardelle were always quick to reply to any queries and very helpful throughout the process. Highly recommend!Stacey S. ★★★★★ Jason was brilliant to work with! Always on top of the transaction! Would highly recommend 👍Scott ★★★★★ Although I've not bought anything yet, they (Jason in particular) have been super helpful in my search for the right mortgage deal, whilst also giving an honest opinion during these difficult times. Would highly recommend.Sandra I. ★★★★★ Fantastic from start to finish! Natalia and Jason found me the best rate for my remortgage and they were extremely efficient! Best service I’ve ever received from a brokerage company. Thanks so much.Virmantas N. ★★★★★ Amazing service and great communication. Ellie Morgan had quickly completed all requests and over delivered all expectations.Highly recommended for those who want to get the stuff done without any delays!David W. ★★★★★ I have used ascot for 3 renewals since they done helped me with my purchase which was complicated and will continue to use them going forward. Very fair prices and very helpful and knowledgeable even with just general information.Adam B. ★★★★★ Natalia made life very easy for us when remortgaging. Third time using ascot always a breezeTaff G. ★★★★★ Ascot Mortgages have been brilliant. Easy to work with and incredibly helpful. I am always happy to recommend them. Natalia and Jason have made the whole process much easier than I was expecting. Excellent service.Daryl L. ★★★★★ We've had a fantastic experience with Natalia Barry and Jason Jones at Ascot Mortgages for our property purchases and refinancing. Their expertise, coupled with genuine care and understanding of our needs, made the process smooth and stress-free.They were consistently communicative, keeping us informed at every step. Their assistance in consolidating our protection cover was invaluable, simplifying what could have been a complex process.What set them apart was their personal touch – always polite and ready to pick up the phone for a chat. This level of personal engagement is rare and much appreciated.In short, Natalia and Jason are not just skilled professionals but also truly dedicated to their clients. We highly recommend their services to anyone in need of mortgage advice.Sarah A. ★★★★★ I have used this firm for several years and they have always been super helpful and supportive, attentive and resolved issues in really useful ways. Shout out to Alison, Ellie and Jardelle (and the team!)Georgia W. ★★★★★ We worked with Ellie to secure our mortgage and protection, and she was a dream! Being a first time buyer, I was quite clueless about the process, and in a time where mortgage rates have been quite high, she worked right til the end to make sure we were getting our mortgage at the best possible rate and was always available to answer all questions I had. Can't recommend enough 🙂Richard D. ★★★★★ Laura S. ★★★★★ As a first time buyer, trying to navigate through potential mortgages was a very daunting thought. Ascot Mortgages were recommended to me and I've been extremely happy with the service provided. They have guided me through every step and I finally have a mortgage. Very pleased and would recommend.Lucy B. ★★★★★ Having Phil as my mortgage advisor was great from the very start! He is down to earth and speaking to him was always a pleasure. The kindness, compassion and support I have been given all the way through what can be a stressful process was immeasurable. Phil and Jardelle worked as a solid team and was able to make me feel at ease all the way through buying my first home. The team were always available and the communication between everyone was always clear and I felt safe in the hands of the company as a whole. Thank you for helping me buy my first home!Flora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Matthew R. ★★★★★ I've dealt with Phil at Ascot Mortgages for a while now and Phil always comes back back to me with the right plan.Keep the good work up!rafal W. ★★★★★ I would thoroughly recommend Phil Greenwood at Ascot Mortgages ltd to anyone looking to seek advice on purchasing a home.Phil was absolutely fantastic. He made the process very smooth and easy and was always there to answer any questions I had.Shahid L. ★★★★★ This company has been truly amazing in constantly giving me the support and help i need for my mortgage and for their continuous work ethic guiding customers like myself and educating them into making the best possible decisions. My special mention goes to Phil Greenwood who deserves every single credit for his brilliant work and communication skills. The more I got to work with Phil, the more he gained my respect as he is a hugely likeable man and possibly the best mortgage advisor yet. Even after I finished my time with Ascot Mortgages, I will never lose my trust in the company and I hope they exceed their business and gain even more success and popularity.Best wishes,Shahid Latif and familyPretty L. ★★★★★ Phil helped me renew my mortgage. He was great at keeping me updated with any rate changes and secured a lower rate than at the time my mortgage went through. Thank you Ascot for your supportjs_loader

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:

26.02.2024

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:

26.02.2024

Do you need a semi-commercial mortgage?

A semi-commercial mortgage is designed for properties where there is a business unit and a residential dwelling in the same building. This could include, for instance, a shop with a flat above it or a residential dwelling where some of it has been converted into a business, for example a pub or a guesthouse.
It does not make any difference what percentage of the property is residential or commercial, even if 70 per cent of the building was residential then a commercial mortgage would still be required.

  • A semi-commercial mortgage is required because two types of mortgage, residential and commercial, are combined and required to finance the purchase of the building.
  • Semi-commercial mortgages are treated like commercial mortgages and so it is commercial mortgage lenders who would finance your purchase.
  • The only exception to this is if the residence has a completely separate entrance, so there is no need to use the commercial element of the property to access the dwelling, then it may be possible to get two separate mortgages.

Options available for semi-commercial mortgages

Both investment and owner-occupier mortgages are available. This means that if you are looking to buy a property to rent out then a semi-commercial mortgage is available to finance it. Also if you are seeking to lend the funds in order to buy premises to work from then this is also an option.

It is often possible to benefit from interest-only periods, often for the full duration of the loan in some circumstances. This can often make the monthly repayment lower, which is particularly useful if you have just set up a business or moved into a bigger unit.

  • There is also the option to have capital and interest repayment options, meaning that you can tailor your repayments to suit your situation.
  • There is the option to have fixed repayment options, which can help for ease of budgeting and also for doing company accounts.
  • The repayment time can be spread over a period convenient to you, this could range from three to thirty years, which again gives you great flexibility in managing your mortgage.

The advantages of using an experienced commercial mortgage broker

As with any financial commitment it is prudent to shop around before signing any paperwork. The range of options available can be lengthy and complicated to sift through especially as you are also running, or starting up, a business.

Using an experienced commercial mortgage broker such as Ascot Mortgages to find the most suitable commercial mortgage finance deals can save you the time and trouble of searching through the options yourself, and as they are “whole of market” brokers, you get the peace of mind that every possibility has been looked at to ensure we find the very best mortgage for you.

Using Ascot Mortgages will save you all the time it takes filling in application forms, because we can complete all the paperwork on your behalf, presenting you with the best options that you can then choose from.

Our fully-trained advisors pride themselves on giving independent, impartial advice and we offer a no obligation initial quote free of charge. Taking advantage of this offer means that we can advise you on the best semi-commercial mortgages without any commitment from you to proceed.

The Financial Conduct Authority does not regulate some forms of Commercial Mortgages.

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Alison Gibson

Ascot Mortgage Expert

Remortgage

Remortgaging is applied when you keep

living in your present property while applying for another mortgage deal with a new lender. Before finding out how to remortgage and get the best offers from experts like Ascot Mortgages, you have to check meeting what parameters of the deal that can help you succeed the most. The range of background factors varies a lot — from the recently changed loan-to-value ratio or your existing agreement coming to an end.

Whether you are trying to get a more beneficial deal or searching for funding to improve your home conditions, remortgaging is one of the most advantageous scenarios to consider.

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FAQ

Yes, you can use a commercial mortgage to refinance an existing property. However, it is important to consider whether refinancing is the best option for you as there may be other financial benefits of holding onto your current loan. For instance, if you have a fixed-rate loan, refinancing could mean losing this benefit and being exposed to increased interest rates. Additionally, there may be costs associated with refinancing such as early repayment fees or legal and administrative costs. Therefore, it is important to speak to a financial advisor before making any decisions. They can provide further advice on your individual circumstances and help you determine whether refinancing is the right choice for you.

When applying for a commercial mortgage, it’s important to understand what factors lenders consider when assessing your application. Generally speaking, lenders will assess things like:

  • Your current financial situation – this includes your income, asset value and other debts;
  • Your credit history – this helps lenders determine whether you have been able to meet your current financial obligations;
  • The location of the property – lenders may consider factors such as local market conditions and rental demand when assessing a commercial mortgage application;
  • The type of property you’re looking to purchase – this includes things like the size, condition and purpose (i.e. whether it is residential or commercial).

It’s important to note that different lenders may prioritize these factors differently and may have specific criteria unique to their lending policies. Consult us and we will provide personalised guidance and help guide you through the commercial mortgage application process.

Yes, there can be tax benefits associated with a commercial mortgage. Here are a few common tax benefits that business owners may enjoy: 

  • Mortgage Interest Deductions: Interest paid on the commercial mortgage is generally tax-deductible as a business expense. This means that the interest portion of your mortgage payments can be subtracted from your business’s taxable income, potentially reducing your overall tax liability.
  • Capital Allowances: Capital allowances allow businesses to claim tax relief on certain qualifying expenditures related to commercial property. This includes items such as fixtures, fittings, and equipment within the property. By claiming capital allowances, you can deduct a portion of the qualifying costs from your taxable profits, reducing your tax liability.
  • Depreciation: Commercial properties are subject to depreciation, which allows business owners to account for the wear and tear of the property over time. Depreciation expenses can be claimed as deductions against taxable income, reducing the amount of tax owed.
  • VAT Reclaim: If the commercial property is VAT registered, businesses may be able to reclaim the Value Added Tax (VAT) paid on the purchase price or certain costs associated with the property. VAT reclaims can result in significant tax savings for businesses.

It’s important to note that the specific tax benefits and allowances can vary based on factors such as the nature of the property, business structure, and individual circumstances. Tax laws and regulations are subject to change, so it’s advisable to consult with a qualified tax professional or accountant to understand the current tax benefits and implications associated with a commercial mortgage in your specific situation.

The approval process for a commercial mortgage typically ranges from 4 to 8 weeks, but the duration may be longer if the purchase is more complex.

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