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mortgage to buy church

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Hi

Have been searching the internet to find mortgage companys that lend to buy a church to convert to a commercial venture, with no luck. Can anyone help? Let me know here or email :beer:

Comments

  • toonfish
    toonfish Posts: 1,260 Forumite
    commercial borrowing is a very specialist market, commercial development even more so. There are a few lenders you can try, including the high street banks but if you have no track record it may be difficult.

    It might be worth speaking to a broker who is familiar with the market, but you may well have to pay them a fee.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • I have a track record, ie own several buy to lets, however my broker is finding it difficult to track down one, I would be puting 50% down and 50% mortgage... Cheers for replying
  • toonfish
    toonfish Posts: 1,260 Forumite
    what are you hoping to turn it in to, and is there planning permission in place?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • I am looking to turn it into a Recording Studio... The church will be left as is and because its non residential planning are ok, nothing is getting ripped out, sound proofing will be screens/drapes, false floor etc, so when the studio runs its course it will still be a church!!
  • toonfish
    toonfish Posts: 1,260 Forumite
    commercial development finance with 50% deposit should be relatvely easy as long as the business plan is sound. If you haven't tried NatWest they are worth a go, but I would try another broker.

    It's difficult to make a recommendation with little detail
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • Just phoned NatWest regarding the above....

    Conversation.....

    Hello, I was wondering if you could help me, does your bank lend money to
    buy a church?

    Advisor..Nah!

    END OF CONVERSATION!!!!!!
  • epz_2
    epz_2 Posts: 1,859 Forumite
    if its just the money needed couldnt you borrow against the equity in your other buy to let properties and raise the cash that way.
  • epz_2
    epz_2 Posts: 1,859 Forumite
    if its just the money needed couldnt you borrow against the equity in your other buy to let properties and raise the cash that way.
  • toonfish
    toonfish Posts: 1,260 Forumite
    Just phoned NatWest regarding the above....

    Conversation.....

    Hello, I was wondering if you could help me, does your bank lend money to
    buy a church?

    Advisor..Nah!

    END OF CONVERSATION!!!!!!

    whoever you spoke to doesn't know what they are talking about. Natwest are usually good for development projects.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



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