Can you get a mortgage to buy business premises?

kingstreet

FWIW a commercial mortgage for a business start-up is likely to be a non-starter.

Itismehonest

TheSenSibleOne wrote: »

But it shouldn't affect the residential mortgage? We would be keeping the house and living in it etc.

I would say ACG is right.
You buy a property at, say, £200K & spend £xxxx on starting a business there.
If deeds were then split the overall size of the property/land you initially bought will be less &, therefore, the residential side of the property likely to come down in value.

As an aside (hopefully not kidnapping the thread).....
@ACG - Why do lenders now insist that the old 'house with income' no longer exists & that those sort of properties must now have 2 separate mortgages (residential & commercial) ie split deeds?

JQ.

kingstreet wrote: »

FWIW a commercial mortgage for a business start-up is likely to be a non-starter.

This.

Commercial lending is not only based on LTV's but also trading accounts. If you don't have any you're really going to struggle.

The residential idea sounds bonkers and has the potential for disaster. What happens if you buy a house and the bank won't let you develop.

Why not just rent a commercial property. Landlord's are desperate for tenants, they'll offer rent free periods and break clauses.