Hi all
This is my first post so apologies if its in the wrong place or confusing/excessive!
Basically, we have sold our existing property and found a house we love, which unfortunately has been used as offices therefore is commercial. We have been told we need full planning permission for change of use to residential and been advised by senior planning that it should go through with no issues, however nram won't port our existing mortgage as they do not want the risk associated.
Therefore we want to look at new mortgage options.. As it would be nice to get on a deal anyway..But we are struggling to find anyone who will consider us until the property is classed as residential.
We know very little, so any advice would be greatly appreciated. The property is fit for use as residential with no changes to layout/no building work required. Only fitting of a new bathroom.
Our dilemma is do we take the risk - apply for planning, redeem or mortgage with nram, instruct solictiors, rent a house and hope once the planning has gone through we will be able to find a provider who will deem it worth what we have offered (£106k) or is it all too complicated and should we walk away?
Sorry this has been a long one but thanks in advance
This is my first post so apologies if its in the wrong place or confusing/excessive!
Basically, we have sold our existing property and found a house we love, which unfortunately has been used as offices therefore is commercial. We have been told we need full planning permission for change of use to residential and been advised by senior planning that it should go through with no issues, however nram won't port our existing mortgage as they do not want the risk associated.
Therefore we want to look at new mortgage options.. As it would be nice to get on a deal anyway..But we are struggling to find anyone who will consider us until the property is classed as residential.
We know very little, so any advice would be greatly appreciated. The property is fit for use as residential with no changes to layout/no building work required. Only fitting of a new bathroom.
Our dilemma is do we take the risk - apply for planning, redeem or mortgage with nram, instruct solictiors, rent a house and hope once the planning has gone through we will be able to find a provider who will deem it worth what we have offered (£106k) or is it all too complicated and should we walk away?
Sorry this has been a long one but thanks in advance