Can I get a buy to let mortgage on a flat above a shop?

I have two buy-to-let flats and want to get a third one. The flat I have been informed about is above a row of shops on a decent housing estate. I have been told that lenders do not like to lend on flats above shops, is this true and if so why? I don’t want to go through the whole mortgage application process only to be told no one will lend to me.

Some lenders steer clear of these properties because buyers consider them less desirable and so it can be difficult to sell them on quickly in cases of repossession. However, these flats are often popular with renters because they are usually in areas with good amenities and strong transport links. Fortunately, there are some specialist, intermediary-lenders who will accept them as security, so do talk to your broker. Expect rates to be higher than for standard buy to let property as underwriting is more complex. For an idea on the rates available to you call us on 0845 345 6788

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