Single Skin Construction TSB won't give mortgage

mrsmortgage

We're buying a house on Cornwall which suprise suprise is single skin construction and it's unmortgageable by TSB.

What other options do we have? Vendors are getting impatient bit unfortunately we're back to square one.

molerat

Go see a local independent broker who will have access to whole of market and will know who will take on the particular type of property..

Moneyhelp4u

A mortgage broker is a good idea as they will know which lenders can underwrite a mortgage for a single skin property. Many specialist lenders will only accept applications via a broker so you will also need to check this.

If you want to investigate yourself then you need the challenger lenders and smaller building societies. Some suggestions (but no guarantee they will accept this) are-
Aldermore
Shawbrook
Precise Mortgages
Ipswich Building Society
Saffron Building Society
Cambridge Building Society

There are more, a broker will be able to guide you.
If you need a quick solution then a bridging lender could help and complete in a couple of weeks, but the interest cost is a lot higher.

amnblog

I assume you mean there is a single skin room or extension, not the entire property?

mrsmortgage

amnblog wrote: »

I assume you mean there is a single skin room or extension, not the entire property?

I have no idea. The MB didn't elaborate and just said that TSB wouldn't lend the money. We're starting (well least I am) that this is potentially a bad buy and that it might become unmortgageable in the future.

[Deleted User]

You have no idea ?

You are buying a home, as a homebuyer your due diligence must be far, far, greater than this.

It is the most expensive purchase you will ever make and it is down to you to ensure that you know every detail.

The professionals you employ to help you buy go by what you tell them.

Learn things, and then relay them back to those professionals, so that they can do the best for you.

mrsmortgage

The Mortgage Broker wouldn't give the whole picture because according to him that's the only thing TSB said.

I'm.more concerned about being able to remortgage/sell in the future rather than anything else.this was an email at 6pm yesterday just say, sorry we'll have to find another lender.

silvercar

What did your survey say?

A serious difference between:

an extension being single skin
The whole property not having a cavity wall but solid walls
the whole property being single skin ie single width brick

depending when it was built the second option may be true, but that shouldn't be a problem.

davidmcn

mrsmortgage wrote: »

I have no idea.

Well, you've seen the property. And presumably had it surveyed?

Give us a link to some photos and we can have a more educated guess. Or just describe the property to us i.e. does it have an extension?

kazwookie

You need to go back and visit it again, and this time take a more detailed look.


Single skin means to me it will be cold in that area, as there is no insulation, harder to heat, and to keep it warm.


Personally I wouldn't buy if it was the whole house, if it was for example one wall to an outer extension, then I would consider it.

mrsmortgage

My best guess it's probably the whole external wall (granite). The broker didn't give me a copy of the survey just what he told me.

http://www.rightmove.co.uk/s6p/73648336