Hodge launches mixed use product

The product will offer proven investors access to one facility that can assist with the purchase of a single property, or across multiple properties within a portfolio, where the residential element of a property comprises more than 51% of the total value.

The maximum individual loan size is from £500,000 up to £10million either across a single loan or aggregate, and terms are available for up to 10 years on properties located in Scotland, England and Wales.

Rates start from 6.15% up to 65% LTV with arrangement fees from 1.5%. The product is available to UK individuals, partnerships, LLP and corporate entities.

Fixed and variable rate options across a range of tenors are available for residential and commercial elements, affording the borrower product hedging capabilities.

Kevin Beevers, managing director of commercial lending at Hodge, said: “Working closely with our highly valued brokers and customers, we know properties comprising both residential and commercial elements can be an attractive investment opportunity, and we also know that securing the right funding from a trusted partner is key to successfully achieving this.

“When it comes to listening and responding to the needs of its clients, Hodge’s track record is well proven, and it soon became apparent that a more straightforward approach using just one loan was required to help investors pursue the purchase of semi-commercial assets in the current climate.

“So, we are adding mixed use finance to our ever-expanding portfolio of commercial products to help support experienced property investors further in accessing funding through a single facility to make the acquisition of residential apartments that include an office or retail unit, for example, as straightforward as it can be.

“Getting the right kind of financial support in place and working with experienced lenders is the key to making sustainable and successful investments across the commercial property market. We pride ourselves here at Hodge on continuing to adapt and innovate to help our highly valued customers achieve just that, and this latest Mixed Use financial product is a key part of that ongoing effort.”