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Obtaining a mortgage on a flat next to commercial premises
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PeaLou
Posts: 1 Newbie
My partner and I have recently had a mortgage on a ground floor maisonette declined as the bank do not consider the property to be suitable.
Through further conversation, we were advised that the bank make it their policy to not lend on houses next to or near commercial property. Unfortunately, our maisonette is next door to a Chinese takeaway and opposite a car garage.
We have done our research in regards to the risks and negative factors when buying next to commercial property so therefore I completely understand the decision made by the bank.
I want to know if anyone has been in a similar situation and could advise us of how and who it was with that you obtained your mortgage?
Through further conversation, we were advised that the bank make it their policy to not lend on houses next to or near commercial property. Unfortunately, our maisonette is next door to a Chinese takeaway and opposite a car garage.
We have done our research in regards to the risks and negative factors when buying next to commercial property so therefore I completely understand the decision made by the bank.
I want to know if anyone has been in a similar situation and could advise us of how and who it was with that you obtained your mortgage?
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Comments
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These things are generally down to surveyors comments, with many banks saying "maybe" to things like that.
Some will be kind enough to give a straight no, but the only way to be sure is to ask them first then get the surveyor out.
Get your broker to sort this out, if you are not using one then start ringing lendersI am a Mortgage Adviser
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.0 -
A takeaway is about as bad as it gets for acceptability.
Smells, noise, traffic, health risk, fire risk.
Makes the property extremely poor security.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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