How's to find out mortgability of a property?

Lamy_2

I am going to look at a flat which is above a shop however someone has mentioned this may cause issues with getting a mortgage. How do I find out if this will be a problem for any future buyer if I wish to sell it on if I am not planning to get a mortgage for the flat?

G_M

You can't.

Mortagage lenders' criteria for lending change all the time.No one can foresee what any particular lender will consider acceptable in the future.

However, in recent years lenders have becoeme increasingly wary of lending above, next to, or even near certain catagories of commercial premises.

Some lenders will take into account the overall desirablity of the area (eg central London=equalls high demand), but this toomight change in the future.

Another factor would be: what kind of shop? But this too can change. Today's shoe shop may be a kebab house in 3 years time.

ps - I assume you read this:

https://forums.moneysavingexpert.com/discussion/5647096

Stillunsure

see my other thread haha same issue!