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.

toonfish

buildstore are the kiddies

exil

Don't know about them but I do know it's possible to get a mortgage which gets released in stages as the work to build/renovate continues.

apk1

what you need to look at is a selfbuild mortgage, the risk is if you buying at auction, you will need to get application/valuations/plans and costings done before hand so you know you will be able to complete on the deal.

The other option is a secured loan through your bank, which can be a bit more flexible, it will cost more, but can be replaced with a cheaper mortgage once the work is done.

double_d77

as mentioned buildstore does self builds http://www.buildstore.co.uk/finance/

Dave