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Mortgage for House Conversion!

Col.Mastard
Col.Mastard Posts: 248 Forumite
in House buying, renting & selling
I want to convert a 4 bed mid-terrace house, into 2 self contained flats.
How do Mortgage lenders view this kind of proposal?

Any advice would be gratefully received

Comments

  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    you will need planning permission before you do anything else.
  • Col.Mastard
    Col.Mastard Posts: 248 Forumite
    How would a lender see this? if I take out a Residential Mortgage to begin with and get planning permission granted, would they allow this? :confused:
  • cazmanian_minx
    cazmanian_minx Posts: 4,048 Forumite
    Part of the Furniture 1,000 Posts Debt-free and Proud!
    There's a mortgage on the Buildstore site specifically for refurbishment projects, which sounds like it might be closer to what you need.

    http://www.buildstore.co.uk/finance/renovation.html

    However, if this is a development project and not somewhere you're ever going to live, you might have to take out a business mortgage. I'd be interested to know the outcome, as this is something I'd love to do in future.

    Caz
This discussion has been closed.
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