Running a business from home - telling mortgage company

Doingmybest2015

I've just received my mortgage offer and reading through the paperwork - just had a panic.
The house is being purchased by me but my partner will live in it with me.
He has his own website which he runs from home. I have just realised that this may be classed as changing the property's use? Can't see anything in my paperwork saying whether its a residential mortgage only.

Should I be worried, do I need to do anything? My mortgage broker knows my partner was self employed and worked from home. It's taken us such a long time to get to this point.

chanz4

doesn't really matter, loads work from home

Thrugelmir

What's the nature of the business. As it's not just the lender but the local Council and neighbours as well.

Mortgage_Mark_2

As long as it's less than 40% non-residential use, don't worry.

EDIT: From a mortgage point of view..

stator

As long as it's just him using a normal type computer I wouldn't worry.
If he has customers or other colleagues visiting or if you have any serious equipment it might get complicated.

PlutoinCapricorn

It is worth thinking about, but there is no need to worry if he is just working online. Loads of stock would be another matter, as would lots of visiting customers or clients. If he converted a room to a clinic or stockroom there would be a change of use from residential to commercial, but just sitting at a PC is what everyone does in their homes.

getmore4less

House insurance can be effected

as the place is occupied for longer it can reduce some risks(breakins) and increase others(accidental damage).

Doingmybest2015

Thanks all.

No stock held here and no customers visit, he works on a computer designing websites for small companies. Just a normal computer and phone line, nothing else equipment wise or specialist, not even a Mac!
Don't know how you work out percentage as he works here throughout the day but really it's our home just with a desk for him in one room.
I think I will stop panicking though!!

PlutoinCapricorn

Better safe than sorry!

I work from home online myself. There are no health & safety issues, no nuisance to neighbours and no change of use.

I once had a neighbour who was a lawyer, and he had a steady stream of young offender clients who came to his flat. We were not happy about this, but he moved to a larger place.

Thrugelmir

Doingmybest2015 wrote: »

Thanks all.

No stock held here and no customers visit, he works on a computer designing websites for small companies. Just a normal computer and phone line, nothing else equipment wise or specialist, not even a Mac!
Don't know how you work out percentage as he works here throughout the day but really it's our home just with a desk for him in one room.
I think I will stop panicking though!!

Not really an issue then.