Home business and mortgage lender

[Vojtonus]

Hi everybody.
I would like to sell some products crafted by me on eBay, Etsy and maybe little e-commerce. To do that I want to register company first at my home address. Unfortunately Barclays advisor told me I cannot run any business at my home as my mortgage is residential only. Can I do something with that?
At this moment it is impossible to rent office or workshop space to use it as business address, especially I am still employed and this will not make me as much profit to pay for extra workspace.
How people with mortgages can run little home business or be self-employed if it is not possible to do when you have got mortgage?
Any advice?

Thank you in advance.

 

[Ashley_Price]

Welcome to UKBF, @Vojtonus

It seems - from reading THIS ARTICLE (admittedly from 2014) - that the problem is as the mortgage market is now mostly run by "automated systems [...] there is less scope for home business owners to get their story across and explain why their accounts may not tick the pre-set income boxes set by the lender..."

One interesting comment in the article was if you can show that your business will not affect the possible resale of your property (should you default on the mortgage and the bank takes it back), e.g. a woman wasn't allowed to build a room onto her house to be a clinic by her mortgage lender as that could then affect the house being sold as purely residential.

 

[arnydnxluk]

Sounds like nonsense. Have you checked your mortgage documents? I'm sure there are millions of self-employed people with residential mortgages. If there is an issue, it's more likely related to treating your home property as a business property with customers coming and going, rather than operating a small business online.

 

[Mr D]

Lenders appear not bothered by people doing admin at home. That's why you need the registered address to be the address you are using. Admin.

 

[ethical PR]

Just get a PO Box or register your business with an accommodation address or your accountants.

 

[PJOrion]

Registering your business with an accountant would be the best option.