- Live Work Units
- From 5% Deposit
- No Work Floorspace Restriction
- Residential & Buy to Let
- Common Sense Underwriting
- Interest Only and Repayment
- No maximum age for residential & buy to let mortgages
Mortgages for Live Work Units
A live/work unit is a property that has been designated by the Planning Authority as part live and part work. A live-work unit could be a house, flat or maisonette.
We usually find that, as part of the planning process for granting the conversion or building of a property, the Planning Authority will stipulate a minimum floor space that has to be used for work purposes. The remainder of the floorspace is then used as residential. The key reason for this is to encourage those individuals with small businesses to locate to an area. Often we find the types of people who purchase live work units are architects, accountants, solicitors, health practitioners, artists etc.
Sometimes, we have found, that a property has been designated as “live work” – however there is no formal definition of what percentage of floor space has to be used for work and what percentage of floor space is to be used for living.
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