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Niche Combo: unusual property and unusual income.
pinklady21
Posts: 870 Forumite
Any idea which lenders I should approach to try and raise a mortgage to buy an unusual property?
Property has more than 10 acres of land and, while habitable, it needs repairs.
Income is PHI.
Were intending to use proceeds from our house sale. Our buyer pulled out on Friday.
So- we now need to try and raise a mortgage on the property.
Value is around £330k, trying to raise about £150k if we can.
Who would be best placed to help us?
I have tried a few local mortgage advisers, but have drawn a blank due to the amount of land. I think this needs a specialist, but don't know where to go to find one. Would appreciate pointing in the right direction.
Thank you!
Property has more than 10 acres of land and, while habitable, it needs repairs.
Income is PHI.
Were intending to use proceeds from our house sale. Our buyer pulled out on Friday.
So- we now need to try and raise a mortgage on the property.
Value is around £330k, trying to raise about £150k if we can.
Who would be best placed to help us?
I have tried a few local mortgage advisers, but have drawn a blank due to the amount of land. I think this needs a specialist, but don't know where to go to find one. Would appreciate pointing in the right direction.
Thank you!
0
Comments
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If you only need the funds until you sell you can probably be accommodated.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
yes... but by whom?
Having the devil of a job finding a lender!
either they don't lend on more than 10 acres, or won't consider PHI - or both!
Can you suggest anyone?0 -
pinklady21 wrote: »yes... but by whom?
Having the devil of a job finding a lender!
either they don't lend on more than 10 acres, or won't consider PHI - or both!
Can you suggest anyone?
Yes, but not on this forum.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Not really the answer I was looking for..... !0
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We cannot suggest Lenders on an open forum for regulatory reasons.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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