Specialist brokers for ex local authority?

deviljames68

Hi,

My girlfriend and I have had an offer accepted on an ex local authority property. We're using London and Country but our adviser seems to be having trouble finding us a mortgage.

Are there any mortgage brokers that specialise in ex locals? Would be prepared to pay a broker to be confident that I'll get the mortgage and get the best rate I can on it.

Rough details:
Block is 6 floors (ground floor and floor 1-5) with lift
The flat is split level on floors 4 and 5.
Entrance is deck access on fourth floor (so you are the top property in the block)
Main door to block is secure entrance
Estate agent has said there is approx. 60/70% privately owned in the block but is unsure of exact amount.
Property is located in London borough (it's in Mitcham)

We both have good credit ratings, a deposit of 75% and our affordability to repay the mortgage is also good. I think our broker is trying to do a good job but am thinking that someone who deals with this on a regular basis and who already has a relationship getting mortgages with lenders on similar properties could be worth seeking out. If anyone has any recommendations or help I'd be very grateful.

p.s. does anybody know how to find out which flats are private or council still? I can't get down there easily to go knocking on doors

Thanks,
James

ACG

Its not really my thing but I would not have throught it was that difficult if 50% plus are owned. The deck access is probably the biggest issue, but as its London it is fairly common I believe and so lenders tend to make exceptions for London.

Try a local broker, not a big firm. I am sure you will be fine.

amnblog

The issue could be ex LA, some lenders won't touch them.

It is not 6 floors, although some lenders won't go over 4 or 5 floors.

It is most likely to be deck access which lenders hate, but can be done.

Every case will also be subject to valuer comments so there will be certain blocks they don't like in any case.

A London broker should sort this all day long.