Jun
04
Can I get residential mortgage on a commercial property?
By
The property is £300 000 I have £30 000 deposit. It has shop space on first floor and an appartment above. I want to convert it to 100% residential.
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2 Comments
June 6th, 2009 at 10:50 am
I dont think so, or at least till is convrted into residential
June 7th, 2009 at 4:04 am
Why not talk to your Mortgage Company ?
If they see you have proper plans to make the conversion i.e. are having drawings made up and are applying for planning permission, they might well be willing to advance the money – perhaps as a ‘buy to let’ (as opposed to full commercial) Mortgage