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Own a Flat above a shop or commercial property and need some equity release or a mortgage in 2022?

flat above commercial property equity release

  • Release cash from your flat even if it’s above commercial premises
  • Ideal for flats above shops or other commercial property
  • Get a valuation with the full value of the property
  • Fixed rate 2.56%
  • No need to make monthly payments unless you want to make a payment
  • Use the money to pay off debts
  • Flat above a restaurant, drinking establishments and others accepted

How much can I borrow?

You can release 60% of your home’s valuation. As an example, if your home is valued at £250000 you can borrow £150000.

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Buying a self contained flat above a late night shop

Finding a mortgage lender and getting a mortgage above a shop may be more difficult than say a normal freehold detached house.  Your likely to need a different bank or building society that is a specialist to get mortgages near commercial premises.

It is usual to encounter people seeking out lump sum lifetime mortgages, monthly payment lifetime mortgage or home reversion plans, however, More to life like The Exeter Equity Release are keen to see evidence of your circumstances in the form of pension statements.

Legal & General - Flexible Indigo flat above shop equity release

What are Hinckley & Rugby Building Society interest rates for equity release?

Hinckley & Rugby Building Society interest rates for equity release are 1.93% MER.

Tough to mortgage home variants include properties will be assessed for flood risk, leasehold properties with a short lease, typically less than 70 years, or a defective lease, properties with structural problems, mundic homes and concrete panel houses.

get a mortgage with Legal & General - Flexible Blue

Tough to finance property titles can include flats of less than 30 square metres in any location, properties with a large number/scale of outbuildings, agricultural use of the land and any outbuildings, properties where there is a self-contained part of the property or annexe, i.e. basement flat etc and properties that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.

Good mortgage advice from Canada Life - Lifestyle Lite

Hard to finance home variants can include properties with post 1945 asbestos or similar composition roof tiles , timber framed properties built between 1920 and 1965, privately developed flats, maximum four storeys with a lift, coach houses i.e. freehold properties with garages beneath and freehold flats (England, Wales, Northern Ireland).

Do Hinckley & Rugby Building Society do Equity Release?

Yes, Hinckley & Rugby Building Society Equity Release is 2.12% MER.

Pure Retirement - Classic Super Lite estate agents valuation

Smaller Building Societies and Lenders

Large banks and Building Societies

Age-related offers – use your pension income

Poor Credit Equity Release

Difficult to mortgage property types include properties in poor condition, properties where letting arrangement where the tenancy agreement is not appropriate, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, crofted houses and properties where the borrower(s) own the freehold with any connected party.

restaurant mortgage choices with rental income for a small size mortgage

Do Hinckley & Rugby Building Society do Pensioner Mortgages?

Yes, Hinckley & Rugby Building Society Pensioner Mortgages are 2.19% APRC.

Equity Release LTV from mortgage brokers

  • 60% home reversion schemes The Exeter Equity Release
  • 60% loan to value home reversion plans Age Partnership
  • 60% LTV monthly payment equity release Together Money
  • 50% loan to value lump sum lifetime mortgages Key Retirement
  • 35% loan to value monthly payment lifetime mortgage Prudential
  • 35% loan to value (LTV) lumpsum lifetime mortgages 1st Stop Home Loans
  • More 2 Life Capital Choice Plus Plan
  • L&G Legal & General Flexi Max Voluntary Repayment Plan
  • Bridgewater Lifetime Mortgage
  • More to life Capital Choice Plan
  • L&G Legal & General Premier Flexible Lifetime Mortgage
  • Royal Bank of Scotland Lifetime Mortgage
  • Saga Lifetime Mortgage
  • Bridgewater Equity Release
  • Canada Life Prestige Flexi Option company number
  • More 2 Life Flexi Choice Voluntary Payment Super Lite
  • Aviva Equity Release Plans
  • TSB Equity Release Plans
  • NatWest Interest Only Lifetime Mortgage
  • Royal Bank of Scotland Lifetime Mortgage


Some of the most common loan to value percentages of Aviva interest only retirement mortgages for over 70s, Zurich retirement mortgages over 70, Churchill retirement mortgages over 70, Coventry Building Society mortgages for over 65, Newcastle Building Society mortgages for over 65 and Cumberland Building Society over 60 mortgages are 35%, 55% and 70%.

More to life

Does Hinckley & Rugby Building Society have positive reviews for equity release?

Yes, Hinckley & Rugby Building Society reviews are tiptop for equity release.

One Family Lifetime Mortgages

Does Hinckley & Rugby Building Society offer Retirement Mortgages?

Yes, Hinckley & Rugby Building Society Retirement Mortgages are 1.87% APRC.

Pure Retirement Drawdown Lifetime Mortgages

Downsides of Home Reversion Plans

A monthly payment lifetime mortgage can reduce your estate value. Lump-sum lifetime mortgages may impact the ability to get state benefits. You may need to pay an advisor’s fee and you could have higher rates to pay with some schemes.

Common loan to value percentage ratios of LV= mortgages for people over 50, More to life interest only mortgages for people over 70, One Family interest only lifetime mortgages for over 70s, Yorkshire Bank mortgages for over 65, Metro Bank later life interest only mortgages over 60 and SunLife interest only mortgages for people over 70 are 45%, 60% and 70%.

The 1st and 2nd charge lender will want to know if the property is a Semi detached freehold house or a Leasehold house and if the resident is an Owner Occupier.

Do Hinckley & Rugby Building Society do Equity Release Under 55?

Yes, Hinckley & Rugby Building Society Equity Release Under 55 is 1.9% MER.

Business owners who could benefit from equity release estate planning

  • Treatment and coating of metals Long Sutton
  • Manufacture of electrical and electronic equipment for motor vehicles and their engines Nelson
  • Electrical installation Ponteland
  • Other retail sales in non-specialised stores Eye


Mortgages lenders For People With Defaults


Common loan to value percentage ratios of Lloyds Bank over 60 lifetime mortgages no fees, Barclays Bank mortgages for 60 plus, NatWest remortgages for people over 50 years old, L&G interest only mortgages for people over 70, Bank of Scotland retirement interest only mortgages over 60 and Nationwide interest only mortgages for over 65 year olds are 45%, 55% and 70%.


flat above a shop

Towns of the UK where equity release is popular

  • Burnham-on-Sea
  • Haywards Heath
  • Sevenoaks
  • Sutton
  • Cirencester
  • Warminster
  • Guisborough
  • Colchester
  • Crowland
  • Newport Pagnell
  • Brighouse

Lenders for Equity Release

  • Aviva
  • Step Change
  • More to life
  • Stonehaven Mortgage
  • Zurich

Do Hinckley & Rugby Building Society do Lifetime Mortgages?

Yes, Hinckley & Rugby Building Society do lifetime mortgages at 2.15% APRC. Hinckley & Rugby Building Society Lifetime Mortgages can have a LTV of 65%.

Equity Release Loan To Value – help from mortgage brokers to make the best mortgage choices

The older you are and the more serious your illnesses you are the more money you can release.  The rendering decision will depend on the mortgage provider and the property value and the type of property with a rental income.  A small size mortgage will involve much lower mortgage repayments especially for buy to let mortgages.

Equity release is an idea product for flats part of a semi commercial property, mixed-use titles and commercial buildings nearby.

Some of the most popular pensioner mortgage products are TSB retirement mortgages, Barclays Bank over 60 lifetime mortgages, Post Office later life borrowing schemes, L&G mortgages for over 65 and Nationwide Building Society interest only mortgages for over 65 year olds.

So what can a mortgage broker do?

A mortgage broker can find mortgage lenders that do United Kingdom flat above a shop mortgage products, depending on the business category, risk profile of the business property if it’s a flat above a restaurant or has drinking establishments nearby.

Your mortgage application will be done with the help of a mortgage adviser and will depend on your credit score and if you have any other mortgages for flats from high street lenders.  If you have credit issues the lender criteria may take a close look at you if you are self employed and debts secured against your home registered in England.

Think carefully before securing debts against your home as this could affect your mortgage options and eligibility requirements for a mortgage offer in the future.

To get a mortgage on a flat above a shop mortgage advisors will look at the business categories and resale value of the flat above a restaurant or food takeaway outlets location. The current market value and market conditions around the food shops may result in a valuation haircut by up to 10%.

For flats above commercial premises, you may be better off with a specialist mortgage on your residential property with a residential mortgage and having a difficult to mortgage property unencumbered.  The lending decision at the end may be more positive.

An independent mortgage broker may advise against a restaurant mortgage and advise securing other debts on your own home instead.