Owning your own home

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stevo_com in reply to @deleted

we had our first place turned down because the mortgage consultant from the bank noticed it was next door to a car repair shop

Why would this affect a mortgage? Just curious.

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Howard in reply to @stevo_com

Why would this affect a mortgage?

Commercial premises next door bring added risks that some lenders do not like.

They have your home as security. Suddenly it could turn out their security is worthless (or much less) if the commercial premises does something 'interesting'.

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