FAQs- Mortgage on studio flats

Can I get a mortgage on a studio flat?

Yes, you can get a mortgage on studio flats including residential and buy-to-let mortgages. Most mortgage providers could be able to lend you a loan for a studio property but you may need to contact a specialist mortgage broker before starting your application.

Can I get a mortgage on a studio flat for buy to let (BTL)?

Yes, anyone can get a mortgage on a property type such as a studio flat for buy-to-let purposes unless or until he/she could afford the mortgage repayments and deposit amount.

How do I find a good mortgage broker?

To find a good mortgage broker you need to look around and compare different brokers. Before choosing one make sure they are licensed and regulated. Ask them if they are members of professional bodies like the Financial Services Authority (FSA) and the Association of Residential Letting Agents (ARLA). Look for a broker who has experience in dealing with loans for studios. They should be able to give you advice on the best way to finance your purchase.

Are there any specific studio flat mortgage lenders?

Most mortgage lenders take a favourable view of studio flats. Every mortgage lender has different criteria while accessing the loan application for studio flats. It’s good to contact a qualified mortgage broker before starting your mortgage application.

Can you get a mortgage on a studio flat if you are self-employed?

Yes, it’s possible to get a mortgage on a studio flat if you are self-employed in the UK. You may need to use your monthly bank statements to replace the payslips.  For more information, you can read our article on self-employed mortgages.