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  • Mortgages & Finance

    BTL mortgage above shops

    Hello Guys i was wondering if any of you can help? does anyone know of a mortgage lender who would be happy with a HMO flat above 2 commercial property’s ( a hairdressers and a barbers) preferably around 80% Loan to value? Many Thanks

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    The Specialist Mortgage Advisers at Bespoke Finance would love to help you out with the HMO Mortgage.

    On normal Buy-to-Let options are often limited for Flats above commercial. This will be compounded with it being a HMO, though the advisers do love a challenge Derek.

    Feel free to reach out at hello@bespokefinance.info or call 01133203240 or FREE on 08009202001

    Given the flats are above Hairdressers, this is a good thing. As Banks mainly don't like smelly buildings (like takeaways) or noisey places (like supermarkets/pubs).

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    _________________________________________________________________________


    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

    _________________________________________________________________________


    Hi Derek

    Yes you need to look at more specialist lenders. Flats above restaurants are for example not favoured by lenders due to fire risk. But you are not the first to buy such a property and finance is available.

    Please give me a shout if you wish to pursue this further.


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    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022


    Hi Derek. I have exactly the same scenario - a hairdressers with self contained flats above which are classified as s257 HMOs.

    I can recommend Jenny Reeves’s at HD Consuktants who are the Property Tribes recommended mortgage advisors.

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