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Help to Buy: Mortgage guarantees for CoffeShop with residential rooms upstairs
idelix
Posts: 1 Newbie
Hello,
We considering buying a three bedroom house which has established coffee shop that operates on ground floor and the residential rooms upstairs, we are planning to live on the property and also run the coffee shop business downstairs.
The question I would have is do we qualify for the "Help to Buy: Mortgage guarantees" or would that be treated as a commercial property.
We don't have 30% for the deposit which would be required if that will be treated as commercial however could afford with help f the help to buy.
Would appreciate any answer and help with that.
Thanks
We considering buying a three bedroom house which has established coffee shop that operates on ground floor and the residential rooms upstairs, we are planning to live on the property and also run the coffee shop business downstairs.
The question I would have is do we qualify for the "Help to Buy: Mortgage guarantees" or would that be treated as a commercial property.
We don't have 30% for the deposit which would be required if that will be treated as commercial however could afford with help f the help to buy.
Would appreciate any answer and help with that.
Thanks
0
Comments
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I don't think so.
It has to be completely residential only.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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