Turning my house into shops.

under-the-thumb

I own a fair size house but to be honest I am very rarely there lately, I am tending to live in the flat above the wifes shop. Instead of selling the house I am thinking of converting into a couple of shops. It is pratical and would not need much work. I have been approached by somebody who would be interested in renting the premises.

Will I need to tell my mortgage lender what I am doing and would this incur higher charges if the house becomes a commercial premises?

I just want to get all the facts before making a decision and involvong the bank.

Thank you.

motorguy

under-the-thumb wrote: »

I own a fair size house but to be honest I am very rarely there lately, I am tending to live in the flat above the wifes shop. Instead of selling the house I am thinking of converting into a couple of shops. It is pratical and would not need much work. I have been approached by somebody who would be interested in renting the premises.

Will I need to tell my mortgage lender what I am doing and would this incur higher charges if the house becomes a commercial premises?

I just want to get all the facts before making a decision and involvong the bank.

Thank you.

A can of worms i suspect.

Would you not need planning permission to do this?

And yes, you'd be changing the function of the property so your mortgage company will need to know, and probably change the terms / rates of your mortgage.

under-the-thumb

pgilc1 wrote: »

A can of worms i suspect.

Would you not need planning permission to do this?

And yes, you'd be changing the function of the property so your mortgage company will need to know, and probably change the terms / rates of your mortgage.

The planning is not an issue, when I bought the house it was being used as 2 shops, I checked with the council and they have no issues at all if they were to be reverted back. The house had been used for donkeys years as commercial premises.

I pretty much thought though that I would be paying more, like you say the the function is changing.

Thank you.

planning_officer

under-the-thumb wrote: »

The planning is not an issue, when I bought the house it was being used as 2 shops, I checked with the council and they have no issues at all if they were to be reverted back. The house had been used for donkeys years as commercial premises.

I pretty much thought though that I would be paying more, like you say the the function is changing.

Thank you.

Whether the Council 'have no issues' with it or not is somewhat irrelevant - legally, it is a material change of use and requires planning permission. If the Council 'have no issues' with it, that probably means they would look favourably on a planning application - but that doesn't negate the need to submit one!