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Professional Consultants Certificate (PCC) - applying for mortgages
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alice88888
Posts: 3 Newbie
Hi,
I'm in the process of buying a property that is three years old in cash. I'm becoming self employed so I'm unable to get a mortgage at this time.
The property does not have the usual new home warranty but instead the Professional Consultants Certificate as it was built on a smaller development.
My conveyancer has advised me just before exchange of contracts that it may be difficult to get a mortgage in future on this property with the PCC as major banks/building societies don't usually except this PCC. Which would also affect future marketability.
Has anyone had issues applying for mortgages with this PCC please?
Any advice would be appreciated.
Thank you.
I'm in the process of buying a property that is three years old in cash. I'm becoming self employed so I'm unable to get a mortgage at this time.
The property does not have the usual new home warranty but instead the Professional Consultants Certificate as it was built on a smaller development.
My conveyancer has advised me just before exchange of contracts that it may be difficult to get a mortgage in future on this property with the PCC as major banks/building societies don't usually except this PCC. Which would also affect future marketability.
Has anyone had issues applying for mortgages with this PCC please?
Any advice would be appreciated.
Thank you.
0
Comments
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This links gives you the answers to (almost all) lenders' policies on this point:
https://lendershandbook.ukfinance.org.uk/lenders-handbook/englandandwales/question-list/1919/
Wrong I think to say that major lenders "don't usually accept" it - from a quick look it seems only HSBC has a "definitely not" answer.1
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