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mortgage to buy church
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highlander001
Posts: 8 Forumite
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:
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:
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Comments
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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 AdviserYou 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.0 -
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 replying0
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what are you hoping to turn it in to, and is there planning permission in place?I am a Mortgage AdviserYou 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.0
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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!!0
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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 detailI am a Mortgage AdviserYou 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.0 -
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!!!!!!0 -
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.0
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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.0
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highlander001 wrote: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 AdviserYou 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.0
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