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Minimum SQ Meters for Converted flat

Jumex Posts: 45 Forumite

8 January 2013 at 11:42AM in Mortgages & endowments

Morning all,

I have obtained an decision in Principle with Leeds Building Society at 95% LTV for a mortgage. I was under the impression that this would be hardest part, but they credit scored myself and my partner and it came back fine.

However, under their lending criteria they will not mortgage non purpose built flats under 60 Sq M. The flat we had our eyes on was around 45 sqm between the 4 walls. This was a 2 bed ground floor flat with separate garage, front and rear garden. A 60 sqm flat would be fairly huge!

Does anyone know if this is standard practise amongst lenders, or just an oddity of Leeds BS?

I see Newcastle BS do similar rates as Leeds BS, but I can't find their lending criteria relating to types of properties.

P.S - Yes I know I'd have a far better choice with a larger deposit...

Cheers All

Jumex

This discussion has been closed.

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