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Turning Buy to Lets to Serviced Accommodation Finance Advice Required


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I own 3 buy to let flats two are tenanted.  One 1 bed flat, in a good area on the south coast near Brighton for serviced accommodation, it only has a lease of 66 years and my buy to let mortgage has expired, I cannot find a buy to let mortgage company who will mortgage the flat.  It has been on the market and empty as I was giving up on the buy to let although it was giving me a good profit of £500 a month.  I have been racking my brains and I have been hearing about the serviced accommodation business.  I am thinking if I could get a serviced accommodation company set up, could I get a commercial mortgage on the property and a business loan to cover the £12k cost of extending the lease and a further advance to furnish, buy white goods and a general tidy up of the flat.  Any ideas would be appreciated, no-one has suggested this, it was just an idea.  I don't want to let the flat go cheaply.  As it has been empty for a while I have lost that income so I now need help to turn it into SA.  My credit rating isn't good due to caring for my elderly Mum who has dementia, I was supporting her and my children on my own.  She now has carers and my children are independent but its left me with this situation.  I am experienced in property having done bed and breakfast, built my own home and owned other properties.  I want to get going again now I am free.

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