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Lender rejected after survey .... London New Build

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Comments

  • bxboards
    bxboards Posts: 1,711 Forumite
    One thing I will say is that if the asking price was 650k and none have sold, then the asking price was too high.

    I'm not totally clear if you are buying a house or a flat? You talk about a new build house, then flats later on and I don't quite see how if this is a new build it seems to have some sort of legacy gym already there?
  • peachyprice
    peachyprice Posts: 22,346 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 6 September 2018 at 3:30PM
    bxboards wrote: »
    One thing I will say is that if the asking price was 650k and none have sold, then the asking price was too high.

    I'm not totally clear if you are buying a house or a flat? You talk about a new build house, then flats later on and I don't quite see how if this is a new build it seems to have some sort of legacy gym already there?

    Lots of commercial spaces around London are being converted in to residential blocks and being marketed as 'new-build' apartments, I'm guessing it's something like this.

    This type of thing, it used to be a large insurance company.
    https://www.rightmove.co.uk/property-for-sale/property-67197322.html

    This one was a care home head office I believe
    https://www.rightmove.co.uk/property-for-sale/property-74122556.html

    Obviously OP's would be on a smaller scale, but it gives you and idea what they're doing
    Accept your past without regret, handle your present with confidence and face your future without fear
  • The EA will tell you almost anything to get there commission. The surveyor did a good job. The non residential property has the potential to limit the resale of your flat.


    It is up to you whether you proceed with the purchase and a broker may be able to put you in contact with a lender that would be willing to provide a mortgage on the property.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Cakeguts wrote: »
    The flats at the moment probably haven't sold because everyone has the same problem getting a mortgage. Nothing to do with the buyer's market. It is was you would have found something similar that didn't have this problem.


    We are nowhere near a true buyers market yet.
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