Hi folks,
I'm considering purchasing a property that is in a commercial zone e.g. "medical, consulting, other uses".
I want to buy it for my PPOR. Is there going to be an issue with the lender about this? I understand that a property designated as commercial and bought as commercial is subject to other lending criteria. i.e. 30 - 50% deposit required.
Is this going to apply to me even though I want to buy it as a private residence?
Thanks.
Dan.
I'm considering purchasing a property that is in a commercial zone e.g. "medical, consulting, other uses".
I want to buy it for my PPOR. Is there going to be an issue with the lender about this? I understand that a property designated as commercial and bought as commercial is subject to other lending criteria. i.e. 30 - 50% deposit required.
Is this going to apply to me even though I want to buy it as a private residence?
Thanks.
Dan.