The property you want to buy will also
be a huge factor
the lender considers
before making a mortgage offer. Not all
properties are built equally and not all
lenders lend against all properties
Some lenders won’t lend on homes
above, adjacent or even near commercial
premises. The property not having a
working bathroom or kitchen (even if you
plan to refurbish) is another no no. Above
a certain storey in a high rise, on a council
estate, or if it doesn’t like the construction
method of the building or even the one
next door.
Interrogate the estate agent, they should
know what properties their buyers have
struggled to finance in the past and they
should also know all the details about the
property they are selling. Is it classed as being
of non-standard construction for example? If
so, what type of non-standard construction is
it?
Here at Mortgage Advisory Network we know
which lenders are happy to lend against the
different types of property and can save you
time and money paying for a valuation only
for your application to be declined.
