Mortgage on ex-commercial bldg

slopemaster

Have seen an interesting-looking house which is newly refurbished to a good standard. However, looking on streetview reveals that it was previously a car workshop doing MOT tests etc. Obviuosly if buying this one the previous use wd come up on searches, and the solicitor would check out that it has planning consent to be converted back to a house. But I just wondered whether this would cause any problems with mortgage lenders?

holly_hobby

Change of use would obviously be the primary requirement.

Further to which, it would rather hinge on the surveyors comments upon the location, quality of renovation, layout of the building for residential purposes, marketability of the unit etc, based on their inspection.

Has this property been the subject of a residential mortgage post change of use & re-development, or is the developer selling the property ?

Holly

slopemaster

Developer is selling the property AFAIK (via an agent).
Perhaps I will check it at least has planning permission for the change of use, before spending out on a survey

bigadaj

Would also be worth checking for an assessment or investigation for contaminated land, it's previous use has the potential for oil and related releases and such businesses may have sold petrol in the past. Ask the developer the question and see what they have initially.

slopemaster

Hmm, yes....thinking about it, maybe I'll give this one a miss. Thanks all!