We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

What happens if mortgaged property becomes un-mortgagable in the future?

pkmid
pkmid Posts: 71 Forumite
Ninth Anniversary 10 Posts Combo Breaker
in House buying, renting & selling
Hi all, I wondered if anyone could answer my query. Our neighbours are trying to sell their house and a prospective buyer told us Halifax want a 20% deposit for it as it is a Laing Easiform type house. It got me thinking what happens if for any reason the Laing Easiform style is declared defective mid mortgage? I tried googling this but just found articles about properties already being un-mortgagable but not being declared that during the payment term.

Thanks in advance

Comments

  • Comms69
    Comms69 Posts: 14,229 Forumite
    10,000 Posts Third Anniversary Name Dropper
    In short nothing, you continue paying the mortgage. There's little benefit in the lender calling the mortgage in, as they will struggle to sell it themselves.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It won't affect the current mortgage but obviously would if you wanted to remortgage or sell.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.4K Banking & Borrowing
  • 253.7K Reduce Debt & Boost Income
  • 454.4K Spending & Discounts
  • 245.4K Work, Benefits & Business
  • 601.2K Mortgages, Homes & Bills
  • 177.6K Life & Family
  • 259.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture