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Flat above shop
Has anyone ever managed to find a lender for a flat above a shop in category A1?
Been turned down twice.
Property is in Scotland.
Comments
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Your mortgage broker should know whos most likely to accept it, the size of your deposit will also be a factor. 1A shouldnt mean its isnt a hot food place, which lenders are most concerned about, but still exactly what the unit currently is will impact your chances… a shop operating in normal hours is going to be easier than a 24/7 off licence
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You can be affected by the commercial properties either side, not just below the flat in question. Ensure your broker is aware of this before going too far down the lender sourcing route,
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks for responses. 20% deposit
Beauticians and registered charity below.
Two storey building with own entrance.
38 years old.
Glasgow is full of flats above shops, surely there must be a lender for this.
thanks0 -
The likes of Aldermore, Foundation, Generation Home and Kensington are coming up on our sourcing system for flat above A1 Commercial in Scotland.
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.2
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