Cashback Remortgages · Property checks
Flats Above Commercial Premises
A flat above or beside commercial premises can suit many buyers but makes some lenders cautious. The type of neighbouring business matters.
How lenders view it
Lenders weigh the impact of the commercial use on value and saleability. Proximity to certain businesses — for example food outlets with odours, or licensed premises — concerns some lenders more than others.
The choice of lender can be narrower than for a standard flat.
What to check
Identify exactly what the commercial premises are used for and any lease arrangement. Advice helps find a lender comfortable with the specific situation.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.