Flats above shops and other commercial premises are also more difficult to get mortgages on.

As well as looking at construction and marketability, lenders will look at whether any of the commercial activities in the block are likely to cause a nuisance by virtue of noise, smell or unsociable hours.

They will also look at whether access to the flat involves passing through the business area, through yards containing commercial refuse or using poorly maintained external stairs – all these things can affect the flat’s resale value.

When the market turns sour, flats above shops are less desirable than they may seem now, so will be the slowest to sell. Lenders obviously worry about this and many mortgage lenders refuse to lend on flats above shops.

There are Three Categories of Shop Assessed by Lenders.

These categoroes are used by council planning departments to designate the agreed usage of a property

Category A1 covers general stores like newsagents and food shops;

Category A2 are professional services like banks and estate agents;

Category A3 are the really difficult ones for mortgage companies and include restaurants, takeaways and pubs.