Question 1

Can I get a mortgage on a flat above a commercial premises?

Accepted Answer

Yes, but options depend on the commercial use below. Restaurants, takeaways, and pubs have stricter criteria than offices or shops. Most lenders restrict LTV to 75-80% and may reduce valuation. Some commercial uses are excluded entirely.

Question 2

Do lenders accept non-standard construction?

Accepted Answer

Many do, but criteria vary by construction type. Timber frame and steel frame are widely accepted. Concrete panel, prefab, and unusual construction methods have more limited options. A structural survey is often required.

Question 3

What are the issues with ex-council properties?

Accepted Answer

Concerns include high-rise blocks (typically above 4-6 storeys), deck access, certain construction types, and external areas. Many lenders accept ex-council houses without restriction, but flats have more criteria to navigate.

Question 4

Can I mortgage a studio flat?

Accepted Answer

Yes, though many lenders have minimum size requirements (typically 30 sqm). Central London often has different criteria than other areas. Studio flats may be capped at lower LTV levels with some lenders.

Question 5

What about properties affected by cladding?

Accepted Answer

Post-Grenfell, most lenders require EWS1 forms for buildings over 11m. Properties with combustible cladding may be unmortgageable until remediation is complete. Some lenders will proceed without EWS1 for certain building types.

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