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Where can I get a 90% mortgage for a flat above commerical premises?

Last post Wed, Oct 15 2008, 11:47 AM by mick12uk. 5 replies.
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  •  Sun, Oct 12 2008, 4:06 PM

    Where can I get a 90% mortgage for a flat above commerical premises?

    Hi there,

    I am interested in purchasing a 2-bed apartment above a restaurant in SW11, London. I am finding it increasingly difficult to find a lender willing to offer a 90% mortgage.

    If anyone knows of any enders who are disposed to lend on these terms, please let me know.

    Many thanks,

    Hannah
    • Post Points: 50
  •  Sun, Oct 12 2008, 4:08 PM

    Re: Where can I get a 90% mortgage for a flat above commerical premises?

    It's worth talking to a mortgage advisor or two. They usually can tell you if there is anything available.
    • Post Points: 20
  •  Sun, Oct 12 2008, 4:38 PM

    Re: Where can I get a 90% mortgage for a flat above commerical premises?

    I have tried that route but still seem to be getting no where.....
    • Post Points: 20
  •  Sun, Oct 12 2008, 5:46 PM

    Re: Where can I get a 90% mortgage for a flat above commerical premises?

    It looks like you will either need to find a larger deposit or a different type of property.

    • Post Points: 5
  •  Mon, Oct 13 2008, 11:06 PM

    Re: Where can I get a 90% mortgage for a flat above commerical premises?

    Depending on valuers comments regarding resaleability of flat and if the commercial premises will dramatically effect the value I would seriously try royal bank they still do up to 95% ltv

    hope this helps

    s

    • Post Points: 5
  •  Wed, Oct 15 2008, 11:47 AM

    Re: Where can I get a 90% mortgage for a flat above commerical premises?

    Hi Hannah,

    The Abbey should do it, although their deals don't seem to be too appealing at the moment.

    Michael

    • Post Points: 5