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Mortgage for house & shop

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  • Mortgage for house & shop

    We are looking to downsize & to combine work & business in a cheaper property. We currently own a house & rent a shop, paying £8k pa in rent. We are looking to buy a cheaper property which includes a shop which was rented out until recently. Is there any way of adding in the rental value of the shop into our mortgage calculations so that we could borrow more money (our income is fairly low so we could only borrow about £50k & need more than that even with downsizing). We know that the shop would rent out for at least £6k & we know that our company can afford £8k so is there any mortgage lender that would consider this? Or any other way of including the shop rental value? I don't think looking at a commercial mortgage is the way ahead at the moment but we would consider this....

    Vix

  • #2
    Re: Mortgage for house & shop

    The mortgage will have to be a commercial mortgage because the shop is connected to the house, I would suggest that you speak to a broker that specialises in commercial mortgages before you have a look round as commercial mortgages work very differently.

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