Mortgage Rejected - 'Not Suitable Security'

Cheeky_Monkey

Personally, I think the OP would be wise to walk away from this one and find something else (preferably not in a tower block)

stefs4

Thanks for all the responses. We will shortly be withdrawing as another surveyor for a large lender also flagged the property.

robatwork

Someone in House buying forum takes advice in Shock! Horror! news.

Wise move I think. Unless BG has had a major gentrification lately it still has far more rough bits than nice bits.

stefs4

robatwork wrote: »

Someone in House buying forum takes advice in Shock! Horror! news.

Wise move I think. Unless BG has had a major gentrification lately it still has far more rough bits than nice bits.

I'll still look around the area, I've been living in east London for 10 years so have a preference of where I'll continue to look. :beer:

tightasagnats

I know that block very well. It's ex LA (all those big blocks are, private developers weren't putting those up in deprived areas (or anywhere else as far as I know) in the 60s and 70s or even 80s) and Bethnal Green was very poor. Still is of course in parts.

Almost all of the housing around there was council built, even many of the Victorian houses were rentals originally. Housing associations put up lower rise blocks, and then you got private developers after the areas started looking like cash cows but that's much more recent and well after most of the LA flats were bought under right to buy - and when people with a tenner to burn on a cappuccino and cake wanted to live opposite the Buddhist Centre.

I am sorry about your purchase though, I hope something works out and you find a nice home. E10 and E17 have far fewer blocks BTW and more Victorian housing stock as well as new builds, and just as much hipster pizza to go round