The Story

The clients, saw an investment opportunity that combined a thriving Indian restaurant business on the ground floor with two, 2 bedroom flats above, creating a diverse revenue stream. Located in Wakefield, the property had significant potential for generating income from both the restaurant and the two flats.

The Challenge

The clients approached Merrigan-Reis with their unique property and financing requirements. Several challenges needed to be addressed to secure the semi-commercial mortgage:

Mixed-use classification: Combining a commercial unit/Indian restaurant with flats on one title required a lender experienced in financing such semi-commercial properties.

Property valuation: Accurately valuing a property with different usage components was crucial for obtaining the required mortgage amount.

Lender selection: Identifying lenders with favourable terms, competitive rates, and a willingness to finance a semi-commercial property.

The Solution

In-depth research: Merrigan-Reis conducted thorough market research to identify lenders specialising in semi-commercial mortgages. Merrigan-Reis understand the specific criteria and lending appetite of different lenders in this niche market.

Lender negotiations: Armed with comprehensive knowledge of lenders specialising in semi-commercial mortgages, Merrigan-Reis engaged in negotiations with various lenders on behalf of the clients. We presented the property detail, clients experience and financials, highlighting the property’s potential to the lender.

Expert advice and support: Throughout the process, Merrigan-Reis provided expert guidance, answering any questions, and addressing concerns. We facilitated clear communication between the clients and the lender, ensuring a smooth and transparent experience.

Results and Success

The clients were successful in securing a semi-commercial mortgage for their restaurant with flats above. The tailored solution met their financial requirements, enabling them to realise their investment goals and capitalise on the property’s income potential.

If you have any semi-commercial properties that are straight forward like a flat above an office or a unique situation like the above client, then contact Merrigan-Reis for a tailored recommendation.