Hodge has launched a new mixed-use finance product aimed at commercial investors wanting to buy property where the majority is residential but also has a commercial element.

The product will offer investors access to one facility that can assist with the purchase of a single property.

It can also be used across multiple properties within a portfolio, where the residential element of the property comprises more than 51% of the total value.

The maximum individual loan size starts at £500,000 and goes up to £10m either across a single loan or aggregate.

Terms are available for up to 10 years on properties located in Scotland, England and Wales, with loan-to-value (LTV) ratios of up to 65%.

Blended rates on the new mixed-used offering are typically from 6.15% and individual tranche pricing is also available.

The lender says fixed and variable rate options across a range of tenors are available for residential and commercial elements.

Hodge managing director of commercial Kevin Beevers says: “We are adding Mixed Use Finance to our ever-expanding portfolio of commercial products to help support experienced property investors further in accessing funding through a single facility to make the acquisition of residential apartments that includes an office or retail unit, for example, as straightforward as it can be.”