Getting a mortgage on an old pub

[4Q]

We’ve been looking for a holiday home/part time btl for a while and an old pub has come on the market in the price range we’ve been looking at. What kind of mortgage would we need on this property as it falls into a few categories? It has living accommodation already and we would be converting the pub part to a holiday let/Airbnb.

[Jon39]

I know almost nothing about this subject, but seem to recall that planning authorities can sometimes be very awkward about closed commercial buildings becoming all domestic.

Remember a case involving a shop with living accomodation above. Detached with houses either side. Think the council insisted on business rates continuing for the defunct shop.

May have this all wrong, but perhaps worth a check before, rather than there be a nasty surprise afterwards.

[4Q]

Jon39 said:

I know almost nothing about this subject, but seem to recall that planning authorities can sometimes be very awkward about closed commercial buildings becoming all domestic.

Remember a case involving a shop with living accomodation above. Detached with houses either side. Think the council insisted on business rates continuing for the defunct shop.

May have this all wrong, but perhaps worth a check before, rather than there be a nasty surprise afterwards.

Many thanks Jon. I would be ok with renting the downstairs pub part as commercial, there seems to be no shortage of coop and Tescos in old pubs round here. If we didn’t and they insisted on business rates we would form an SPV Co to occupy it and claim rates relief anyway as it would be below the threshold.

[Sarnie]

You will need a Commercial mortgage......you need to look into the change of use of the property too......it may not be possible to convert it fully into a place to live/let out....

[4Q]

Sarnie said:

You will need a Commercial mortgage......you need to look into the change of use of the property too......it may not be possible to convert it fully into a place to live/let out....

Thanks Sarnie, is this something I could do as an individual or would we need a ltd co to do it?

[Sarnie]

4Q said:

Thanks Sarnie, is this something I could do as an individual or would we need a ltd co to do it?

You would have less options doing it as a Ltd Company.......

[TTmonkey]

Funny an old pub came up on my right move search earlier, in Somerset. Hit me thinking as freehold was reasonable price I thought.

[4Q]

Sarnie said:

You would have less options doing it as a Ltd Company.......

I’ll drop you an email tomorrow

[Sarnie]

4Q said:

I’ll drop you an email tomorrow

We can't help with this I'm afraid, we don't deal with Commercial lending.........

[4Q]

Sarnie said:

We can't help with this I'm afraid, we don't deal with Commercial lending.........

Ok no probs, anyone you’d recommend?