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Mortgage lenders for property with covenant
Cupppatea
Posts: 2 Newbie
I have found a house I would like to buy with a covenant attached(living and working in local area for last three years) which I qualify. My bank (HSBC) will lend enough money but not for a house with a covenant.
So, can anyone recommend a mortgage lender who are more agreeable to lend for property with covenant restrictions?
Please?!
So, can anyone recommend a mortgage lender who are more agreeable to lend for property with covenant restrictions?
Please?!
0
Comments
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Local building society?0
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Covenant?
Are you sure it's not a S106 Agreement, or similar?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 -
Ok they call it an occupancy restriction but myself and the bank has called it covenant.0
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You need to establish exactly what it is, then seek advice from an independent broker.
Such issues require specific advice from the lender, so the broker will appreciate you researching the nature of the requirement so he can accurately explain it to the lender.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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