Can anyone answer this?

tommyedinburgh

Needing some help/advice. 

A property has come on the market that is currently an office near us having previously been a home, then and B and B, then a medical centre and now an office - all over the last 25 year. 

We would really likely to try and buy it to live in as our home. 

Are there any lenders that would lend on it with a view of changing it from a commercial property to a residential?

I can only see stuff online about semi-commercial, ie with living section as well as a commercial, for example a pub with a flat about etc. 

Head is spinning. 

ACG

You would probably need to use a bridging loan to purchase the property and then apply for change of use. 
Then you could remortgage it to a residential mortgage assuming it fits criteria (ie kitchen, bathroom, habitable etc). 

user1977

Are you saying you'd be willing to take the risk of buying it before getting planning? Normal way of doing it would be a contract conditional on you getting planning - then you can use a residential mortgage (assuming the property doesn't also need physical work done to make it habitable).

getmore4less

Is it this one?
https://www.primelocation.com/for-sale/commercial/details/59672186/

tommyedinburgh

getmore4less said:

Is it this one?
https://www.primelocation.com/for-sale/commercial/details/59672186/

Wow - yes it it!

Jen271626

Oh my god thats literally 2 mins along from me haha 

tommyedinburgh

Jen271626 said:

Oh my god thats literally 2 mins along from me haha 

It’s  a very well connected area with the express bus to Glasgow and the train station 2 mins away. Not far from the bypass either. 

Jen271626

tommyedinburgh said:

Jen271626 said:

Oh my god thats literally 2 mins along from me haha 

It’s  a very well connected area with the express bus to Glasgow and the train station 2 mins away. Not far from the bypass either. 

Yip lived (and work now) 2 mins away my whole life its a great area. My dad stays straight across from the garage and has done for 40 years now. That would be amazing turned back into a house, best of luck with it. 

tommyedinburgh

Jen271626 said:

tommyedinburgh said:

Jen271626 said:

Oh my god thats literally 2 mins along from me haha 

It’s  a very well connected area with the express bus to Glasgow and the train station 2 mins away. Not far from the bypass either. 

Yip lived (and work now) 2 mins away my whole life its a great area. My dad stays straight across from the garage and has done for 40 years now. That would be amazing turned back into a house, best of luck with it. 

We got a quote for a bridging loan yesterday basing it on having it for one year to give us time to return it to a residential property before remortgaging to a high street lender. 

It was quite expensive, gathering our thoughts for a bit. Such a pity there aren’t any products available other than a bridging loan. 

getmore4less

tommyedinburgh said:

getmore4less said:

Is it this one?
https://www.primelocation.com/for-sale/commercial/details/59672186/

Wow - yes it it!

Little MSE hobby of mine can I find a property from very little information. Might worth seeing if the current sellers would work with you to get change of use to reduce the risk. There is a kitchen and toilets, from previous use there may even be(working?) plumbing for bath/shower to complete bathroom facilities with a standalone unit that just needs plumbing in which would be quick. something like this that could also be moves around while a full refurb was going on. https://www.jtspas.co.uk/shower-cabins-372-c.asp

tommyedinburgh

getmore4less said:

tommyedinburgh said:

getmore4less said:

Is it this one?
https://www.primelocation.com/for-sale/commercial/details/59672186/

Wow - yes it it!

Little MSE hobby of mine can I find a property from very little information. Might worth seeing if the current sellers would work with you to get change of use to reduce the risk. There is a kitchen and toilets, from previous use there may even be(working?) plumbing for bath/shower to complete bathroom facilities with a standalone unit that just needs plumbing in which would be quick. something like this that could also be moves around while a full refurb was going on. https://www.jtspas.co.uk/shower-cabins-372-c.asp

Great minds think alike. 

I asked that very question. They want to have a go at selling as is but will come back to us in due course. 

If we bridged for a year it might cost around £6-8k. I simply don’t want to pay that.