Buying property

If you're buying or selling, tell others about it here. Or ask other owners for advice.
Woodcote
Posts: 1
Joined: Sun Jun 07, 2020 9:58 am

Buying property

Post by Woodcote »

We are trying to buy a property for muti-generation living and in the near future buy 2/3 shepards huts to create a small family business.
We are buying the property on a normal residential mortgage do mortgage companies mind you doing this or do we need to have a commercial mortgage?
What sort insurance do you need, I know there will be a third party indemnity anything else?
Is anyone able to have a chat about running this type of business in the southwest of England?
When life gives you lemons make lemonade 😊
Norfolk Canary
Posts: 93
Joined: Wed Sep 07, 2016 9:03 am

Post by Norfolk Canary »

I am no expert but it sounds like you are simply buying a house to live in with some land attached so I expect that will be a normal mortgage. I don’t see how the fact that you may put a couple of Shepherds Huts on it at a later time would make a difference. I don’t suppose the hut purchase could be part of the mortgage agreement anyway as the a mortgage lender wouldn’t lend against a depreciating asset such as a hut. They would have to be financed some other way.
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CSE
Posts: 4389
Joined: Mon Nov 06, 2006 3:34 pm
Location: Galicia

Post by CSE »

Welcome to the forum.
At the top right of this page is a link to an insurance company. On their web page you can see what you may need to cover yourself for.
https://www.schofields.ltd.uk/blog/464/ ... iday-lets/
You perhaps should consider insurance cover for the accommodation and maybe contents.

You may need permission for change of use covering the land.
Static huts will need planning permission. If your huts have wheels that does mean they can be moved. Thus not requiring permission. However, if the huts are connected to any services such as water or drainage then they are not deemed to be movable. Obviously the drainage plan will also need permission.
Obviously things can change over the years between purchase and setting p a business. I will also suggest you teak to the local planning office. Every council will have their own planning criterias so expect differing answers.
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