Beverley Building Society is targeting brokers with clients who live and run businesses from the same property with its mixed-use mortgage proposition.

The mutual will consider residential properties incorporating businesses including kennels, catteries, equestrian centres, tea rooms, cafés and hairdressers, provided at least 40% of the property remains the applicant’s main residence.

Its mixed-use mortgage is available for purchases and remortgages at up to 75% LTV on a capital and interest basis or 65% LTV interest-only, with a maximum loan of £750,000.

Beverley said cases are individually assessed by its underwriting team rather than relying solely on automated decision-making, potentially providing an option where the combination of residential and commercial use makes a case difficult to place with mainstream lenders.

HOME AND BUSINESS

The Society highlighted the case of a couple who operate a luxury cattery from their home on England’s South Coast.

They needed to refinance while managing existing credit commitments, but the property included their family home, commercial cattery facilities, a swimming pool and two building plots.

Beverley assessed the overall circumstances and provided a refinancing solution covering the mixed-use property.

The borrower, Douglas, said: “It was really easy to work with Beverley’s mortgage team right from the start and the first thing that struck me was the ‘can do’ attitude.

“There wasn’t that dreadful sense of ‘computer says no’… finally common-sense reigns.

“I’d be happy to recommend Beverley Building Society to anyone looking for a mortgage.”

‘DON’T ALWAYS FIT A STANDARD LENDING BOX’

Stu Bryce, head of new business at Beverley Building Society, said: “Many kennel and cattery owners have invested years building successful businesses from their homes, yet finding suitable mortgage finance can be challenging due to the mixed-use nature of their properties.

“At Beverley Building Society, we take the time to understand each case on its merits rather than relying solely on automated decisions.

“By combining personal underwriting with a common-sense approach to affordability, we’re helping brokers find solutions for clients whose circumstances don’t always fit a standard lending box.”