Commercial to residential

lincroft1710

Is there a particular reason why you will be looking for a commercial property to convert to residential, rather than just buy an existing residential property? Is there a specific type of property you are looking for?

brokennotbent

Ozziuk, thank you for sharing your experience. So, am I correct, this was multiple properties purchased as BTL? How much dud your application take, I'm assuming it was treated as one property or this purpose? Were you already known to your neighbours, hence their supporting statements?

Ozzuk

brokennotbent wrote: »

Ozziuk, thank you for sharing your experience. So, am I correct, this was multiple properties purchased as BTL? How much dud your application take, I'm assuming it was treated as one property or this purpose? Were you already known to your neighbours, hence their supporting statements?

It was 3 commercial holiday lets in one huge barn - we converted it into two cottages and applied for residential. One reason was to remove the empty weeks criteria and the other was to secure a residential mortgage. The neighbours already knew us and obviously preferred a residential building to holiday lets - although there was actually nothing stopping us still running it as a holiday let afterwards (subject to agreement from mortgage company).

We had one mortgage over both houses as they were on one set of title deeds, one half we let out long term, the other we lived in. It was many years ago but I don't think the process took long or cost very much.

I think the initial application was turned down or put on hold until we supplied business failure case and proof that we'd offered it to the community.