The Mortgage Cafe

Buy to Let Mortgage for Flats Above Commercial Premises

BTL Mortgages Suitable for Flats Above Commercial Premises

Are you looking for a mortgage on a Buy-to-Let flat above a commercial property, then we have the answer for you.

These flats need to be leasehold in England and Wales. For Scotland the tenure is different.

The flats generally tend to be above retail shops or offices, but not always. Lenders will want to know what trade is being carried out in the shop below.

Lenders generally do not accept flats above fast-food outlets, restaurants, licensed premises. Shops with associated smells/chemicals/in flammables etc., are also not acceptable by most lenders. However, we have a selection of lenders who can consider these types of properties. We will also need to know what type of property is adjacent on both sides of the property and what trades are being carried out in each case.

The flat must be self-contained and have its own front entrance (ie not through the shop). Mortgages are available up to 85% of property purchase price (or property value for remortgages). Interest only is readily available and applicants do not need letting experience with some of these lenders.

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Buy to Let Mortgages as Low as 1.60% pa


Applicant Profile

  • Applicants can be 1st time buyers
  • Should have a personal income of £25,000 pa or more (call to discuss)
  • Employed or self-employed
  • Clean credit history
  • SPV limited company accepted

Types of Property

  • Self-contained flats, or maisonettes
  • Must have own entrance
  • Location, England, Scotland & Wales
  • Must be leasehold title in England & Wales
  • May be freehold title in Scotland

General Lending Criteria: Flats Above Commercial Property

  • Purchases or Remortgage
  • Interest only or capital + interest repayment
  • Mortgages up to 85% Loan to Value
  • Lending to Limited companies considered

Summary of the Application Process

  • Complete our online enquiry form or call us on 0330 173 6570
  • Discuss circumstances and requirements with an adviser
  • Receive quotes of best potential lending terms
  • Complete a mortgage application
  • Provide ID and proof of address
  • Lender will ask for any other documents
  • Receive decision in principle
  • Pay relevant valuation fee
  • Receive Mortgage Offer
  • Solicitors engage in legal process
  • Mortgage completes

Typical Lending Criteria

  • Maximum lending up to 85% LTV
  • Restricted trades in premises below – call to discuss
  • Interest rates from 1.46% (subject to LTV & trades below)
  • Maximum loans up to £2m
  • Minimum mortgage term 5 years
  • Minimum lease term 30 years at end of mortgage term

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