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mortgage declined
fluffylulus
Posts: 1 Newbie
we are in the process of buying a renovation property. the home buyers report passed it as suitable security for mortgage purposes, but the underwriter for cheltenham and gloucester have declined the mortgage because it has no mains gas or drainage , only oil and a cess pit. can any one shed any light on this? we have never heard of this before.
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Comments
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Could be outside of their policy for many reasons.
One big thing is access for filling oil and mantaining of cess pit. Are there access arrangelents in place?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 -
Sounds unusual, I would imagine a lot of rural properties have neither gas or mains drainage, really can't see it being an issue, provided suitable arrangements are in place.
Suggest you speak to your broker, and get this reviewed/appealed.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.0 -
My Mum's house, built in 1992, is unmortgageable according to C&G.
How odd.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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