Mixed-use property with Hyra Hypotheken
Mixed-use properties are properties with diverse purposed, offices, catering and a shop, combined with a residential space. And, yes, at Hyra Hypotheken we also finance mixed-use properties.
What is mixed-use property?
We talk about mixed-use properties when there are different uses for one property, such as catering, retail or office space, always in combination with a residential function. Think of a ground floor with retail space, with one or more residential units above or behind it. It goes without saying that Hyra Hypotheken offers the possibility of financing combined property.
Conditions for financing mixed-use property
In addition to the standard requirements, additional condition apply with mixed-use properties. One is that the residential part represents at least 50% of the market value. This must also be evident from the valuation report.
Furthermore, Hyra Hypotheken finances a maximum of 80% of the market value of combined property, whereby the market value for the entire property is taken into account. There can be a risk surcharge on the interest rate for the loan or the part of the loan that is used to finance the combined premises.
Rental income from the commercial part is not included in the ICR/DSCR calculation.
| Possibilities | Possibilities |
|---|---|
| Finance mixed-use properties? | Yes |
| Maximum LTV | 80% |
| Minimum percentage of housing | 40% |
| Calculation maximum mortgage amount | Only the rental income from the redidential part(s) is/are included in the mortgage application; the rental income from the commercial use of the property (shop, business premises) does not count for this. |
| Mortgage types | Interest only and linear |
| Interest rate | When the market value of the commercial part is >25% (of the total market value in let condition), a surcharge of +0.25% applies |
