Flat above shop mortgage
WebSep 30, 2024 · Getting a mortgage on a flat above a shop. Things like smells, high footfall from the public, and sharing access points with commercial premises can all mean that the property needs a higher level of maintenance and repair, and can be more prone to damage. Even less tangible "damage" to the investment, such as noise or people loitering around ... WebI never believed you could get me a mortgage above a fried chicken shop at 90%. No-one else could. MB, London In the current climate, it is a challenge to source competitive mortgage finance for flats above commercial premises. This is particularly so, above, restaurants, supermarkets, an off licence, pubs, offices, hairdressers, launderettes and …
Flat above shop mortgage
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WebApr 4, 2010 · many mortgage companies either wont lend or will demand higher deposits for flats above shops. i think its viewed a higher risk for fire, flood, damage etc. that was my experience when i looked at buying one a few yrs ago. Thanks to all who post here:beer: 3 April 2010 at 9:23PM. Dan_1976 Forumite. WebDec 5, 2024 · With mortgages on standard properties, it’s possible to borrow up to 95% loan-to-value, which means having a deposit of just 5%. If you’re buying a property …
WebIn north London, Jeremy Leaf, principal of Jeremy Leaf & Co estate agents, says a typical one-bedroom flat above a shop in east or north Finchley would cost about £300,000. A similar property in ... WebIf you love the area and the flat and price is right, then it might very well be a good option. Being above an insurance office is not too bad, it is not noisy or smelly and unlikely to attract crowds of people. There is a risk of it changing into something else in a few years, but again - see above. 1.
WebJan 12, 2024 · A flat above a shop may be harder to mortgage Leasehold status. It’s also important to consider the leasehold status of the flat. If the flat is leasehold, it means that you are buying the right to occupy the flat for a set period of time and you will have to pay ground rent, service charge, and insurance to the landlord. WebJan 4, 2011 · A Being unable to find a lender willing to lend on a flat above a shop is nothing new as the majority of lenders view flats above shops with deep suspicion. The reason for this is that...
WebOct 3, 2024 · Mortgage lenders who offer mortgages on grade 2listed buildings will usually expect mortgage deposits of around 25% but you may be able to find mortgage lenders who will accept a 10% mortgage deposit for a mortgage on a grade 2 listed building. Restrictions on Grade 2 listed buildings
WebNov 27, 2024 · Can you get a mortgage on a flat above a shop? Yes, it’s possible to get a mortgage on a flat above a commercial property in the UK. It could be residential or buy … nether houseWebIf you are looking to buy a flat above a shop and need a mortgage, help is available. Call The Moneyhub Limited on 0203 725 5830 and speak to one of our highly specialised and … netherhouse farm crematoriumWebMay 3, 2014 · The vendor of the flat is either: a. the [most likely freehold] owner of the entire building, granting a new lease on sale; or b. its existing leaseholder, owning from 'a'. So you could contact 'a' direct. Maybe a covenant on his/her part could be imposed, prohibiting use of the shop for sale of fast food or as a pub etc. 2 May 2014 at 3:16PM itwin mattress companyWebOct 7, 2024 · There are other big mortgage lenders which may be able to offer you a mortgage. Some lenders may limit the type or price of properties you can purchase. Some of these banks include: Central Hispano, Banco Bilbao Vizcaya Argentaria (BBVA) and CaixaBank. Documents you need for your Santander Spanish mortgage: NIE number … netherhouse farmWebIf you do not have a survey report all you need to email is the Estate Agency Sales Particulars, property number and postcode and we’ll do the research for you. For more information on Mortgages for Flats Above Shops and Other Commercial properties please call us on T: 020 7993 2044 or alternatively click on the below button. netherhotWebFeb 6, 2024 · The average Loan to Value (LTV) for flats above shops is between 85% and 90%. Can I get a mortgage for a flat above my shop? You must convince your lender … itwin melodic mattressWebFeb 6, 2024 · Unfortunately, although lenders may consider flats above commercial premises there are two areas that are often highlighted as denting the chances of acceptance. Firstly, lenders will typically... itwin mattresses adjustable