Converting Commercial to Residential

Taking a commercial unit and converting it into a residential dwelling is a niche area.

Our experienced team can walk you through the process, discuss funding terms and help you achieve the finance that you require.

Whether this is your first venture into this area or you are an experienced developer we have options available.

Speak to an Expert

I confirm that I have read and consent to my personal information being processed in accordance with The Money Hub's Privacy Policy. I also confirm that I have read The Money Hub’s E-Marketing to Customers and consent for The Money Hub to market to me by email. On receipt of this enquiry we will contact you to discuss your requirements.

Converting from Commercial to Residential

Converting commercial properties into residential use is an opportunity area with property developers who are developing small commercial units such as hairdressers and betting shops, into residential use, or on a larger scale converting office blocks into residential apartments. Here we look at how this can be achieved and what is involved.

Why convert commercial units into residential?

High street shops are on the decline as the footfall has decreased with the move to online shopping, which has resulted in many units being unoccupied. Additionally with the move of shops to more retail parks where everything is under one roof this has left the traditional high street with minimal visitors.

Developers see that these commercial units as an opportunity for them to add value, convert to a residential dwelling which is high in demand. Additionally, local authorities are more likely to allow planning permission for the conversion as more residential homes are urgently needed for people.

Disused office blocks are also a great opportunity to developers as they can be an eye sore on the community and provide the much needed residential space to the community.

What lenders provide finance for these conversions?

High Street lenders generally shy away from this type of lending, so there are many specialist lenders which would be willing to consider the project. These specialist lenders are available through mortgage and commercial finance brokers.

Typically you will have to put down a deposit of 30%, however if you have additional security to put into the deal a lender maybe willing to provide 100% of the purchase price and a 100% of development works.

Want to have a chat?

Speak to one of our experts...

What to Expect from The Money Hub

We Gather Information Required to Search the Market

We gather some basic information about you using our quick online form

Conduct a Whole of the Market Comparision

We will search 100’s of providers to find you the lenders who are willing to approve your mortgage

Provide full service through to completion

We will show you rates along with the monthly repayments. This will not affect your credit score. We’ll also explain any fees if you progress at this point and as long as you are happy to proceed, provide you with the full service through to completion of your mortgage being accepted

What our Customers think about us

Converting Commercial to Residential FAQ's

Why convert commercial units to residential use?
Many commercial units are unoccupied and as there is a great demand for residential accommodation converting these units makes sense to experienced developers.
What are the costs when converting commercial property?
The costs can vary from project to project. By working with an experienced commercial broker they will be able to help provide you with a quotation tailored to your project which will outline all potential costs.