With the limited space in the uk we are seeing a rise in the development of churches into residential accommodation. As specialist commercial mortgage brokers and bridging loan specialists we get quite a few questions regarding converting churches. When a church becomes unused or falls into disrepair they are decommissioned as a place of worship by the religion. This means that developers or people looking to buy a church may purchase and turn it into a dream home. Although you will need to apply for planning permission it can be a great way to have your dream home. According to research by Get Me My Mortgage there are over 30 churches closed per year and in the last 75 years over 8000 Methodist chapels have closed down.

Top reasons for buying and converting a church. 

  1. History

What is better than owning a piece of history and restoring an old building to its former glory with your own taste and style mixed in. Once a church has been closed if no one buys it, it will be left to ruin and this is a waste when there is a shortage of space as it is.

2. Space

Churches are large open plan and beautifully designed. If you are looking for a large living space it can be an excellent idea and will allow you lots of options for interior design.

Can i get a mortgage for a church conversion?

The type of mortgage you will need to buy a church conversion will depend on what you are looking to buy. If you are looking to buy an already converted church then the mortgage process will likely be simpler and there will be less steps for you to take. It is unlikely that you will be able to get a 100% mortgage for your church conversions so you will need a minimum of 10% deposit of the buying price. Then the usual affordability and credit checks will be carried out. if you have bad credit or are self employed it may prove more difficult to get a development mortgage through a traditional lender but there are many specialist lenders out there and with the right deposit and affordability you may be able to get what you need

If you are looking to carry out your own conversion then there is more too this and you will likely need development finance to ensure you have the resources to complete your project. This is a big undertaken and should be seriously considered if you have no previous experience in development.You will need to employ an architect to plan and design your conversion, this will also give you an idea of the cost and time it will take to develop.

If you are wanting to convert a church and are looking at your options then speak to the experts here at Get Me My Mortgage. Our expert brokers will inform you of everything you need to know and help you secure the finance you need to make your dream a reality!

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