Mortgage declined

Newthings

This sounds like a bit of a hassle but if I could arrange getting the cooker out the kitchen from upstairs removed and pay for that. Its just a cooker and kitchen sink up there, wouldn't even class it as a kitchen. 

Actually reading that out aloud they wouldn't want to do that. 

Anyone know of any possible lenders...im looking at Kent reliance, paragon, precise mortgages...they aren't popular but I wonder if they maybe a bit more relaxed in comparison to the high street lenders. Anyone know of
Any possible lenders?

Newthings

zemarcopolo said:

Newthings said:

Freehold, only one person under the title which is why this is all the more confusing why its being classed as 2 dwellings. 

Can you not turn the other kitchen into a store/home office/ utility room?

Yeah I want to have it as an study room, So I can wfh. It was originally a bedroom. I explained this to my current lender who I was going to port the mortgage from but virgin said 2 kitchens is a flat out know. I even recommend having something underwritten to say I have 3 months to pull down the plasterboard partition and rip out the kitchen upstairs but they still said no 

MFWannabe

Newthings said:

Bless them, two old ladies own the place. I phoned up the estate agent to ask if they could possibly get someone to do this but he said they won't do that. Its sold as is. He's convinced I can find another lender, I'm not so sure

It sounds like you have 2 options: 
1) seller puts it back to one property, if they really want to sell it then they will do this. Explain to EA if it won’t be done you will have to pull out as lenders won’t lend and unless sellers happen to find a cash buyer then they will keep having this problem 
2) You find another property anyway as this is hassle 

Seashell517

Newthings said:

Anyone know of any possible lenders...im looking at Kent reliance, paragon, precise mortgages...they aren't popular but I wonder if they maybe a bit more relaxed in comparison to the high street lenders. Anyone know of
Any possible lenders?

You need to find a broker for this. The brokers who post here can't contact you directly, but you can contact them. Or find a less complicated purchase...

macman

IIRC, Ed Miliband was famously revealed to have two kitchens in his house. Yet he presumably still had a mortgage?
Your only real option is to lean on the EA to lean on the vendor to get the cooker and sink removed, it's a couple of hours work at most. You could even offer to pay for this, as if you buy you'll have the cost anyway?

eddddy

macman said:

IIRC, Ed Miliband was famously revealed to have two kitchens in his house. Yet he presumably still had a mortgage?

That may have been for religious reasons, and therefore acceptable to mortgage lenders.

(Or you use a mortgage to buy a house with one kitchen, and add a second kitchen later.)

More generally, some brokers claim that they can find lenders for this - if you google something like 'mortgage for house with 2 kitchens', a few brokers are listed who say they can help. But the lenders may be sub-prime and expensive - and the brokers might want large fees on top.


Edit to add...
Be careful of dodgy brokers asking for an upfront fee to look for a suitable mortgage.... and then it turns out that they cannot find one.

gingercordial

eddddy said:

macman said:

IIRC, Ed Miliband was famously revealed to have two kitchens in his house. Yet he presumably still had a mortgage?

That may have been for religious reasons, and therefore acceptable to mortgage lenders.

I remember my parents house-hunting in a wealthy and predominantly Jewish neighbourhood, and several of the houses they viewed had two kitchens so milk and meat could be kept completely separate.  Nice if you have the space!  But can't comment on the mortgage position as they didn't go for any of those in the end.

loubel

You're not going to get a standard residential mortgage on this from a high street lender. You need a specialist broker to find finance. If the property is currently set up as two flats you might need to get a bridging loan to convert it to a single house again and then remortgage.

macman

eddddy said:

macman said:

IIRC, Ed Miliband was famously revealed to have two kitchens in his house. Yet he presumably still had a mortgage?

That may have been for religious reasons, and therefore acceptable to mortgage lenders.

(Or you use a mortgage to buy a house with one kitchen, and add a second kitchen later.)

More generally, some brokers claim that they can find lenders for this - if you google something like 'mortgage for house with 2 kitchens', a few brokers are listed who say they can help. But the lenders may be sub-prime and expensive - and the brokers might want large fees on top.


Edit to add...
Be careful of dodgy brokers asking for an upfront fee to look for a suitable mortgage.... and then it turns out that they cannot find one.

I rather doubt it, since his other big moment was being photographed eating a bacon sandwich...

Crashy_Time

greatcrested said:

Many lenders will decline an an appliaction were there are 2 kitchens. They fear you will let half the property, making repossession hard if you run up mortgage arrears.

See an independant mortgage adviser.

Bit premature 'making your place a buy to let' before you have anywhere to live......

Couldn`t you let any property and make repo hard, even if the lender hadn`t been informed?