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Mortgage help for my son needed..please
LJW_2
Posts: 354 Forumite
Hi, my son has seen a house that he is considering to buy. It has some structural damage to the front which is a few bricks that have moved..looks a bit like a car has crashed into the front..but too high for that. I know he would need a structural survey. The estate agent has said that because of this he would only be able to pay in cash! Any advice on this??
The house was 50k and is now 40K. Only a small terrace and needs some modernisation (not been inside yet). Other house's on the street are valued for £70
Any advice would be helpful.
Thanks in advance:D
The house was 50k and is now 40K. Only a small terrace and needs some modernisation (not been inside yet). Other house's on the street are valued for £70
Any advice would be helpful.
Thanks in advance:D
0
Comments
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I'd guess the estate agent is right... cash buyers only.
If the property has structural damage I can't see many lenders wanting to take a punt on it, particularly in the curremt market.I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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