Earl Shilton Building Society (ESBS) has launched a new mixed-use mortgage to assist people who wish to run or set up a business from their homes.

Many people changed their working situation over the pandemic, with spaces for home offices becoming essential for many looking to move house. 

The society says the mixed-use mortgage will allow homeowners to use a room within an existing property to function as a business space for professions such as beauty therapists, dog groomers, and counsellors.

The mixed-use mortgage is a discounted SVR five-year fixed initial rate of 4.54% with an arrangement fee of £999. 

The maximum loan is £250,000 with a maximum loan to value of 50%.

ESBS chief executive Paul Tilley says: “With the rising popularity of working from home in all sorts of industries, we’re proud to be supporting our members in establishing or growing their businesses.”

“I’d encourage anyone thinking of exploring that option to get in touch with our expert mortgage advisers and get the process started.”