Flats over Shops

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    Flats over Shops

    Hi I am looking at buying a flat over a shop (not food) to refurb and let out, it has a 125 year lease. I have not considered flats over shops before as I mainly stick to 2 up, 2 downs. I have one slight concern, which is how easy will it be to sell on in a number of year’s time. This is because some mortgage company won’t take on flats over shops and those that do charge a slightly higher rate of interest.
    This may be a hard question to answer as there are so many variables but has any one found it hard to sell on a flat over a shop even if it is priced to sell.

    There should be no conveyancing problems if flat is self-contained, has own independent access, and is demised by a lease containing proper plan and service charge covenants (by L)/payment obligations (by T).
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).


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