Commercial Mortgage Help please

uncommonadvice

How can I buy a commercial property with as little money down as possible. The building is currently used as an office. Annual rental income of £30,000. Last valuation was for £380,000 in 2022. Planning permission for changing to a residential property is currently going through (and might not happen). Similar resi on the same street go for £700,000. Current owners open to selling as is. Property would pass valuation at £450,000 for sure. Years ago I bought several properties using a bridging loan, with immediate refinance via a remo. Can this still be done? If so, which banks would countenance it? If not, are there any other ways of buying this property with no money down?

I'm employed. Six figure income. No debt other than my relatively small residential mortgage.

user1977

Rental income may currently be £30,000 but what is the covenant of the current tenant like, and how long does the lease have to run? Big difference between an almost-guaranteed income for years to come, and a property which could be empty next month.

Planning for residential use isn't much use until you can get vacant possession, and development finance is a completely different (and more risky) proposition than a passive income stream.