studio flats in inner London

jb2012

Hi, is there a general rule for getting a mortgage on studio flats in inner London? I've read that 30 square m is the minimum size lenders will consider but some agents say this isn't true. However, I'm reluctant to pay for a valuation on a flat unless I'm pretty certain it will be approved. I've seen a few flats of 25/26 square m which would suit me but I don't know if they are mortgageable. They are in residential conversion properties (not ex-local authority) in Highgate and Tufnell Park, so I wouldn't have thought future saleability would be a problem.

Thanks

Senior_Paper_Monitor

Are these new/recent conversions ? If so will further restrict lenders and the amount they will lend - what LTV are you looking for ?

jb2012

Hi, no they're not recent conversions. I would guess maybe 20/30 years but not sure. They're both in victorian terraces. I technically only need an LTV of 60% but would prefer 80%. I also think it's possible to convert them into a small 1 bed - would that affect mortgageability?

ILW

Watch out for soundproofing
30 year old conversions quite often had none at all, and very difficult to retro fit.
OK for BTL but not much fun to live in.