Refused mortgage by HSBC

ianm1982

As per my previous thread about my and my partner getting the oppertunity to but a ex council house for 60 grand and then do it up the house has been lived in for the last 30 years by a old lady she had now moved out and the councill have decided to sell it off and given my gf dad first refusal of the house.

Now HSBC have refused a mortgage on the basis that the property toilet is external what is that all about?

The property is a old cottage and built like this? Yes we would be looking to once purchasedthe house release some equity in it and extend the back to put a propper internal bathroom in and new kitchen.

Any help would be appreciated.
IAN

Conrad

Hi Ian - do you recall I said the property type was critical, and somerone was arguing with me this did'nt matter!!

You need very specific lenders for this, or you may end up wasting a lot of time and money.

An experienced mortgage only broker should be able to help.

ianm1982

Yeah i remember you saying this however there dont seem to be many clued up advisors around here who seem to be on the same wavelength as we are. I have a meeting with natwest on friday so see what they say i suppose.

Conrad

Save yourself a journey. Nat West will lend purley on the basis of the valuers opinion. You can talk forever with the Nat West advisor, but it's irrelevant as it will be thier surveyor that has the say so.

If I were you I'd ask the Nat West people for the valuers contact number and get thier opinion over the phone as to whether they will ok this property, rather than waste a valuation fee.