Mortgage on a studio or ex-local authority?

AFF8879

So I have recently had a sale fall through after the seller pulled out at the last minute due to being greedy and wanting more money

I have a 90% LTV mortgage offer in place with HSBC so I assume that, so long as they are happy with valuation on a new place and it is same/lower price, then I don't need to go through the whole process again (please correct me if I'm wrong!!)

I am looking at properties in a better area now (still London) but as such what I can afford is not as great. So I want to make sure that I don't fail a valuation before making an offer on a property. Am I likely to get a mortgage on a studio with 90% LTV / at all? It is a modern one, decent size (33sqm) with fully fitted kitchen, bathroom etc and separated bed area. Secondly I am looking at some ex council places, these are all low rise (4 floors max). Could this be an issue?

I am also hoping I can transfer my booking fee across as that was 1.5k, if anyone has any experience of this please let me know as obviously I don't want to lose it...!

MortgageMamma

Hi There

I don't have an experience with HSBC as they only accept business direct at present and exclude brokers (I read they are changing that).

Some lenders don't accept ex local authority properties and I really couldn't say if this is the case with HSBC - but I think the best thing to do is talk to them, let them know whats happened and what your new plans are and see what they say