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Mortgage for property with converted barn

  • 10-07-2023 7:48pm
    #1
    Penelope78
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi, looking to take a mortgage out on a detached house, it comes with a barn which has been converted into 2 apartments....Banks have no problem giving us the amount we need but just NOT for this house as it is not seen as a primary residential mortgage....we would not want to rent these units and they are getting in the way of us purchasing the property...this would be a dream home for our family and we are devastated...mortgage broker has tried all the well known lenders and all have refused...is there no way around this??

    Thanks



Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,606 Mod ✭✭✭✭Jim2007


    It is a commercial property and it going to be very difficult to convince people that you are not going to use it as such - today the banks and tomorrow probably the Revenue as well. I'd say move on.



  • #3
    Penelope78
    Registered Users, Registered Users 2 Posts: 2 ✭Penelope78


    Thanks, there doesn't seem to be any way around it, such a shame to lose out on a house because of this, the last thing I would want is strangers living in our garden, and given its location in the middle of nowhere I don't know who would want to rent there....a good family home lying vacant because of it all 😞



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