Mortgages For Property Above Commercial Premises

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I have just seen a property which i like but it is above a shop which sells sports goods. My three preferred mortgage lenders seem to state on their website that they dont give mortgages for properties above commercial premises. Is it likely that i wont get a mortgage for this property ? I dont want to go through the bother of applying only to be refused for this reason. Also i dont really want to apply for a mortgage with a lender which isnt one of these three as they are offering the best deals for me.

I also note that supermarkets like tesco etc seem to build new flats above their new stores. Do people in these flats ever have problems securing a mortgage ??

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The developers of the new flats tend to design them and rent out the bottom floor to shops etc (hence the Tescos). It is the old flats above shops that mortgage companies won't deal with. They are often owned funnily enough by people who work for estate agents and rented out. "Cheap" cash buys I assume.

The new builds with the shops down the bottom have problems with the flats directly over the shops sometimes but not always. Upper floors are usually able to get mortgages. The developers though are marketing the new builds at "investors" and they often arrange the finance.

Edited by Flopsy

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