New mortgage says no business

Yvonne1964

I have got a mortgage arranged with Virgin / Clydesdale and is going through solicitirs in next week or so after a long wait.
I am breeding cats as extra income, I dont want to tell mortgage company in case they knock back the mortgage orcdelay or increse costs.
I sell Avon too as well as my full time job.
Cats are kept indoors or in heated garage.
Its ridiculous all the terms and conditions, and I know most self employed do not inform lenders or councils, I am cutting down my hours in my job to do more self employed.
I need this next house with no hickups or delays.

davidmcn

Did you have a question? I doubt any lenders are going to get excited about you breeding cats or flogging Avon stuff on the side, they might if it became more than an ancillary use of the house. Don't you have a mortgage at the moment?

Yvonne1964

davidmcn wrote: »

Did you have a question? I doubt any lenders are going to get excited about you breeding cats or flogging Avon stuff on the side, they might if it became more than an ancillary use of the house. Don't you have a mortgage at the moment?

No mortgage at moment.
Cats arent just moggies they are pedigree and a business that will grow.
If someone doesnt like cats its their problem.
Its a business like others that takes time and a bit of space.
There are 100s of 1000s if not millions of people running business at home.
This is something very out of date like old covanents restricting people going about their business.
Even the Land Registry informs me they have no information of contact to enact covanents at the property.
I am enquiring at local council if they enforce these covanents.

Yvonne1964

I need to find a way to change conditions after the whole process goes through

davidmcn

From the lender's point of view, it's not so much about covenants as the fact that the risks to them are different for business premises. Plus they'll have valued the property as a house - if you change it to something which more resembles (say) a cattery, that affects the marketability and value.

I am enquiring at local council if they enforce these covenants.

Not necessarily a great idea to do that, in case it just encourages them to do so!

ACG

If you do not agree with the T&Cs why did you agree to them?
Nobody is forcing you to take their money.

The avon will not be a problem. The cats probably will be.
I work from home sometimes, but I have a laptop and that is about it. No customers are coming to my home, there are no potential legal issues surrounding tripping/falling customers, causing harm to animals (I am not saying you do hurt them or that you make mistakes but it does happen). Running a business from home can affect the resale value.

Some lenders are actually open to lending where you have a business like this and at normal rates. Maybe if you had done the research or used a broker, you could apply properly without stressing about an issue that could have been prevented - easier to cut corners though and moan about terms and conditions I suppose.