Mortgage issues when you set up AirBnB on your land/anex?
Discussion
We are planning to sell up and move to the wilds 
We need to port a mortgage of around £250k and the rest will be equity and cash to get us a place around £850k.
One issue that has cropped up is a friend of a friend mention we won't be able to put the mortgage to a property that is obviously going to be used for an Airbnb – a quick bit of googling suggest this might be the case.
So - is it a simple case of buying somewhere with (as we plan to) 6+ acres and just buying 90% as normal but buying 1 acre separately for cash - and that's where we do the shepard hut/pod stuff?
And if that is a possible - could you go so far as this....a few option we have looked at have a main house and a separate house (often the barn or stable conversion, that is separate from the main house) - they are always being sold as one sale, but I expect I might encounter mortgage problems again with buying, what is very obvious, a second house that will be let out in some way...... So again, could I not just purchase the main house and 90% of the land and then purchase the secondary property, with a tiny garden (and a padock for huts) and a right of access for 200 K cash for example? So the mortgage company only deals with the main house that is never let, nor any of its land.
M
We need to port a mortgage of around £250k and the rest will be equity and cash to get us a place around £850k.
One issue that has cropped up is a friend of a friend mention we won't be able to put the mortgage to a property that is obviously going to be used for an Airbnb – a quick bit of googling suggest this might be the case.
So - is it a simple case of buying somewhere with (as we plan to) 6+ acres and just buying 90% as normal but buying 1 acre separately for cash - and that's where we do the shepard hut/pod stuff?
And if that is a possible - could you go so far as this....a few option we have looked at have a main house and a separate house (often the barn or stable conversion, that is separate from the main house) - they are always being sold as one sale, but I expect I might encounter mortgage problems again with buying, what is very obvious, a second house that will be let out in some way...... So again, could I not just purchase the main house and 90% of the land and then purchase the secondary property, with a tiny garden (and a padock for huts) and a right of access for 200 K cash for example? So the mortgage company only deals with the main house that is never let, nor any of its land.
M
Sarnie said:
MarkL73 said:
hmmm - logistically tricky!
Yep, thats the problem with buying non standard properties with standard mortgages........a couple of lenders may consider the title being split on completion with confirmation from your solicitor but you would need to provide detail plans of the two plots so that they can value what they are lending against, which would be the main house and garden only, the other property and land would need to be a separate transaction and would need a BTL or a Commercial mortgage, depending on the intended usage.....Gassing Station | Finance | Top of Page | What's New | My Stuff