Specialist lender Together has revised its definition of semi-commercial property, widening eligibility to support more borrowers.
Under the new criteria, properties will now be classed as semi-commercial if up to 60% of their floor space is used for commercial purposes, specifically for retail use — an increase from the previous threshold of 50%.
The change, introduced on 17 October, applies to the lender’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.”
The update reflects Together’s continued efforts to adapt its lending approach in response to growing demand from mixed-use property owners, particularly those combining residential living with small retail or business premises.
