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Mortgage to buy High Rise flat

minskiy
minskiy Posts: 9 Forumite
in Mortgages & endowments
Hi.

I'm looking to buy ex-local authority flat located on the top floor of 10 storey high rise building.

My broker is struggling with finding a lender who will lend on such a property, please let me know if there are any?

Many thanks

Comments

  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Think you will struggle to find a lender.

    Does it have to be this property? Could you not find an alternative?

    Even if you do find a lender you could have problems selling it as the buyer will be having mortgage issues too.
    I am a Mortgage Adviser
    You 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.
  • minskiy
    minskiy Posts: 9 Forumite
    Thanksfor your reply

    I do understand all pro's and contra's with buying such flat, but this is the place i like and would like to find a lender first before moving to the next property
  • ILW
    ILW Posts: 18,333 Forumite
    Any repair charges could be massive on a 10 storey block.
This discussion has been closed.
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