Lending for House Converted into Flats

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    Lending for House Converted into Flats

    Hi All,

    Do anyone have any information about the type of lending available for a Freehold Property (House) that’s been split into self contained flats.

    Eg. Type of deposit required and potential borrowing costs.

    #2
    Ask Nat-West Bank and Halifax Bank to give you a quote for mortgage loan .

    Comment


      #3
      With respect to Gordon999 neither lender accepts Multi Unit Freehold buildings under their Buy to Let criteria.
      There are indeed several lenders who will lend normally to a maximum of 75% where the charge is secured on the Freehold Building with no leases having been created on the individual units.

      If however it is your wish to buy a flat within a converted building for your own occupation then the two lenders mentioned by Gordon999 would indeed be prepared to lend up to 95% at normal rates of interest along with a significant number of other lenders . Much however will depend on the unexpired period of the lease with lenders as a general rule requiring a minimum of 50 years unexpired after the conclusion of a mortgage term ( exceptions do exist to this minimum rule)

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