We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Tesco developed properties above a store

zarf2007
zarf2007 Posts: 651 Forumite
Ninth Anniversary Combo Breaker
in Mortgages & endowments
I saw a news article that tesco are building properties above their new stores that are springing up, surely these will prove difficult for a mortgage as you are technically living above a commercial premises?

Comments

  • custardy
    custardy Posts: 38,365 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    zarf2007 wrote: »
    I saw a news article that tesco are building properties above their new stores that are springing up, surely these will prove difficult for a mortgage as you are technically living above a commercial premises?

    dont many 000's of people do so in existing flats above shops?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    To sell or let?

    Affordable housing ?
  • amnblog
    amnblog Posts: 12,782 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    yes, it is tricker, but profitable for Tesco.

    plus the government will put these properties on their new homes figures
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • zarf2007
    zarf2007 Posts: 651 Forumite
    Ninth Anniversary Combo Breaker
    Thrugelmir wrote: »
    To sell or let?

    Affordable housing ?

    To sell, for what I have seen a 1 bed starts at £230k (London) so doubt they fall under affordable housing, just wonder if the HTB scheme would apply.
  • zarf2007
    zarf2007 Posts: 651 Forumite
    Ninth Anniversary Combo Breaker
    custardy wrote: »
    dont many 000's of people do so in existing flats above shops?

    Yes but could be cash buyers or renting.....
  • custardy
    custardy Posts: 38,365 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    zarf2007 wrote: »
    Yes but could be cash buyers or renting.....

    well somebody owns the house they rent ;)
    I simply dont believe every flat above a shop is bought for cash
    What about tenements of 16 with shops in the lower levels?
  • Senior_Paper_Monitor
    Senior_Paper_Monitor Posts: 2,918 Forumite
    Part of the Furniture Combo Breaker
    Tesco mortgages ?
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • amnblog
    amnblog Posts: 12,782 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Senior_Paper_Monitor wrote: »
    Tesco mortgages ?

    I think not
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Tesco is reputably Europe's largest property company. So redeveloping property may not be as daft as it seems.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.9K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.5K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture