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Is the house unmortgage?
Jacey71
Posts: 1 Newbie
Can someone help?! Our house is currently under a Stop Notice and has suffered mining subsidence from recent activity at a local colliery. I have been told that our house is unmortgageable, is this correct??
0
Comments
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Yes.
No lender will advance a mortgage on a property that is subsiding. It will need to be repaired properly and signed off by building control. Even then it might not be that easy to mortgage as some lenders will shy away from houses with historical subsidence dependent on the actual cause of it.0 -
Futire insurability will also have major impact on saleability and mortgageability too.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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