Uninhabitable property - can't get mortgage

OrangeSherbert100

I'm considering bidding for a 19th century property at auction. It hasn't been lived in for over 30 years and has no kitchen or bathroom (just a wc) so needs lots of work. Several lenders I have approached about a mortgage have said this means the property is regarded as uninhabitable and they won't provide a mortgage for this reason.

Are there any specialist lenders that might do it?

Thanks for reading.

imoneyop

Just done a search on Google and the following come up -

http://www.buildstore.co.uk/finance/renovation.html

I've never used them, so I can't give you any comments on them but perhaps other posters might have dealt with them.

RAS

Hi

Try the ecology Building Society. They were set up to fund renovation/construction of buildings that no one else would offer a mortgage on.

http://www.ecology.co.uk/

I have a savigs account with them but have not yet found a suitable property

seven-day-weekend

Just one piece of advice....make sure it isn't a Listed Building. It will be more trouble and expense than it is worth.

Doozergirl

And make sure that is isn't single scheme brickwork which some houses of that age are known to be in my area, certainly! No end of problems there either...

Anything that hasn't been lived in for that long is guaranteed to cost far more than you ever thought, have more problems than you could shake a stick at and be either a 'money pit' or a 'labour of love' depending on why you're buying it.

Just being lived in and heated does make a house more structurally sound and keeps many of the nasties away...