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Mortgage refusal
Grant22
Posts: 3 Newbie
Hi Me and my partner have recently tried to get a mortgage for an ideal property as our first home.
When the mortgage company sent the surveyor/valuer we were informed that an extension on the
Property is of single leaf construction and not acceptable for lending.
Question Is it a case off game over and no chance off a mortgage at all.
Our mortgage advisor did look around other lenders but with no luck we’re not sure what to do next.
Thanks
When the mortgage company sent the surveyor/valuer we were informed that an extension on the
Property is of single leaf construction and not acceptable for lending.
Question Is it a case off game over and no chance off a mortgage at all.
Our mortgage advisor did look around other lenders but with no luck we’re not sure what to do next.
Thanks
0
Comments
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Another advisor if you don't trust the judgment of the one you have now, or another property if you do?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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Why are you keen to buy a property that has an extension which is incorrectly built?
Move on, the surveyor has prevented you making a mistake.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 -
There is a fairly detailed thread on here regarding single-skin extensions and mortgages which might be helpful.
https://forums.moneysavingexpert.com/discussion/5784208/single-skin-brickwork-mortgage-myths
The takeaway appears to be that all single-skin construction isn't un-mortgageable, it depends on technical details, might require a structural survey that a potential buyer pays for, etc.Hi Me and my partner have recently tried to get a mortgage for an ideal property as our first home.
When the mortgage company sent the surveyor/valuer we were informed that an extension on the
Property is of single leaf construction and not acceptable for lending.
Question Is it a case off game over and no chance off a mortgage at all.
Our mortgage advisor did look around other lenders but with no luck we’re not sure what to do next.
Thanks0 -
Being from a very rural area in the north of Scotland and staying in the same area and it also has Croft land which is ideal.
Thanks for thread paste will have a read.
The house does need work which is fine as I’m a joiner anyway would most likely be knocking the extension down0 -
How much would the property be worth without the extension? Would the mortgage company be agreeable to you buying the property and pulling the extension down; perhaps only releasing some of the money until the extension is down then the rest when it has been taken down?
Would it be worthwhile speaking to your broker or taking the whole thing to another?Mortgage started 2020, aiming to clear 31/12/2029.0
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