House next to laundrette survey problem

SophieC1

I am attempting to buy a house and have had a provisional mortgage agreement from my bank. I agreed that they could use a surveyor chosen by them, paid for by me, to do a property survey (my choice, rather than a homebuyers report). The surveyor called me today told me that because the house is next to a laundrette he will return the report with a £0 mortgagable value meaning my bank will pull out.
Can I argue this with my bank? Should I find a new mortgage provider as I still want the house? Are there mortgage providers who handle unusual properties?

Doozergirl

My aunt lives next door to a launderette and never had any problems mortgaging or remortgaging, sonyes, someone must lend on them. She won't have shopped around very hard either.

It sounds like you just walked into your high street branch when you went mortgage shopping. You might be saved money by going to a whole of market broker who can find the best priced mortgage deal and the right lender for the property.

hazyjo

Don't forget whoever you sell on to will have problems. If the market is falling or if we're in recession at that time, it may be extremely hard to sell. If it's an absolute bargain, maybe it's worth it, but if you're paying full market price, I would pull out.


Jx