Nationwide valuation of zero

Kevie192

lazer-zxr wrote: »

I've just been on the phone to NW and didn't get a lot from them again. They said the valuer would've totted up the work required to update the house and deemed it too much. No other details.

Are NW notoriously picky? Which lenders are less so?

Why don't you ask your mortgage broker? It's their job to know!

lazer-zxr

Kevie192 wrote: »

Why don't you ask your mortgage broker? It's their job to know!

I've not been using a broker. Maybe I should.

Kevie192

I'd say that's a really good idea now, given that one company have classed the property as unmortgageable. I'm sure they'll be able to find a route for you to buy it.

Rambosmum

Try L&C as a broker. Free, whole of market and MSE recommended!

[Deleted User]

I agree with others there has to be more to it.

If Lenders didnt lend on the basis of a doer uper then half the housing stock would be unmortgeable.

Out,_Vile_Jelly

I bought a property with obviously dated decor; 70s woodchip everywhere and lurid orange tiles in the bathroom. This must be an error, or key information not being added to the survey.

sheff6107

lazer-zxr wrote: »

I've just been on the phone to NW and didn't get a lot from them again. They said the valuer would've totted up the work required to update the house and deemed it too much. No other details.

Are NW notoriously picky? Which lenders are less so?

Yes they are. Go to a broker.

Halifax are easier to deal with.

moneyistooshorttomention

The buyer of my starter house (Victorian 2 up/2 down) got a mortgage no problem at all - with Halifax.

When I checked out the deal they had at that time - that's exactly who I would have chosen too in their position. So I''d see what sort of deals they've got going now in your position. Goodness knows - there are loads of houses out there needing literally tens of thousands of £s spent on them.

Yep...it was dated in many ways and needed thousands of £s spent on it. But I wasnt prepared to spend on everything it needed doing - as I'd had to spend a lot as it was and it was only ever meant to be a "starter" and so I was never going to get it immaculate/modern (unlike my current one - which is being determinedly hauled into the 21st century and I'm using "quality" stuff):rotfl:

Crashy_Time

theartfullodger wrote: »

They don't want to lend on it: Their decision, unlikely to change.

So, options...
- walk away, find somewhere else..
- Find another lender
- (Not flippant, you may have options..) buy for cash - probably lower price - then mortgage later when everything sorted.

RUN away, don`t go any further with this.

parking_question_chap

Crashy_Time wrote: »

RUN away, don`t go any further with this.

Why? You have not even seen the house.

OP, suggest you get a mortgage broker involved to help you out. Assuming there is nothing fundamentally wrong with the house beyond cosmetics.