New Class E

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    New Class E

    Hi All,

    I own a flat next to a previously classed A3 cafe. It has been noted in previous remortgage applications (owned since 2003), that the lenders often don’t like lending next to commercial properties, but I’ve not had an issue to date. It’s in a desirable area and my LTV was always good. It’s now under offer to first time buyers and I’m wondering whether residential lenders may still be guarded about its proximity to an A3 class establishment - which was classed as cafes, but not takeaways. Now I see the planning classes have changed again. Do lenders prefer the flexibility of the new Class E or are they as cagey? Opinions welcome. This could be subjective to their potential as suitable buyers I appreciate, but I’m wondering if I’m going to run into issues with the valuation. I remortgaged last year without issue, but it was BLT and I appreciate the criteria is different on a residential basis. The flat has been under offer since mid March and the valuation is taking longer to receive than I was expecting and I’m wondering if they have run into issues. It’s still only 3 weeks I appreciate!! Any consensus out there?

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