Mortgage for £18000

thelazytrumpeter

Hi,

I would like to buy a garage and convert it into an office. I don't currently have a mortgage and would like to get a small £18000 mortgage to buy it.

Does anyone know if this is possible? Do people do mortgages so small or would it have to be a personal loan? Not to sure about the personal loan route really.

Matt

Senior_Paper_Monitor

Either a commercial mortage or personal depending on a number of issues - assuming you are sound financially (have deposit/conversion cost) should be doable either way.

koexelek

If the office is for your own personal use, you don't want a commercial mortgage, as that would be far too expensive.

Residential lenders will do a mortgage of that size.
Some won't go less than £25000, but I'm pretty sure Halifax for one would do £18000

thelazytrumpeter

Yes the garage is for my own personal use.

Most lenders don't seem to do mortgages for garages. Halifax included. I have phoned loads - wondered if anyone knows a mortgage company that would do it.

Matt

Senior_Paper_Monitor

Garage (standalone - I am assuming this is not a build in your garden job, in which case it would become part of your property) converting to office is never going to get a residential loan!