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Mortgage - Property used for commercial purposes?
savsaz
Posts: 4 Newbie
Hi all, just wondering if you can help. We've applied for our mortgage and have it approved in principal. I had started a website freelancing business last year and had registered it as a private company with Companies House. The registered and trading address I used was my house address. I've only worked a couple of jobs here and there using my company.
With regards to the mortgage, there is a question in the questionnaire which asks if any part of the property is used for commercial or agricultural activity. I am not too sure what to answer here. Because the company trading and registered address is linked to my home address, would I have to answer Yes to this question? What are the implications of doing so?
With regards to the mortgage, there is a question in the questionnaire which asks if any part of the property is used for commercial or agricultural activity. I am not too sure what to answer here. Because the company trading and registered address is linked to my home address, would I have to answer Yes to this question? What are the implications of doing so?
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Comments
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Thousands of people register their business at home.
A business address is not using the property for commercial activity.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.0
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