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What is my property type? Does my mortgage gets declined?
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As K_S said, no point in cancelling it now, wait and see what they say.If they made an offer for the asking price but at 85% LTV is that something you could afford?0
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Hi MWT,No unfortunately I cant afford 85 LTV. So, 85 LTV would be the same as declined for me.Do you suggest me to go for other mortgage application? or just wait?Is there any chance even small chance to get my application approved by NW?0
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Do you have a photo of the property you can share?
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Do you think I would have any chance?
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Personally I'd say 'no', not at 90% LTV.You may as well wait a little longer to get the official answer, if for no other reason than to see if it comes back as an 85% LTV offer or a '0' valuation so that can inform your next move ... and of course if the surveyor does a desk valuation and doesn't look to closely I guess it could even come back as a 'yes' at 90% LTV.0
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How did you mistake that for a detached house at the viewing? Did the estate agent / vendor tell you that the 2 garages also belonged to the property?0
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The other risk with this sort of property is the potential 'flying freehold'.Are the garages below part of your freehold with one of them leased to someone else already, or does someone else own the freehold on the garages?Similarly who owns the freehold on the land over which the access under your flat runs to get to the rear of the building?0
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thanks for the fast reply.I was advertised as a ``2 bed detached house''. whole the building belongs to the owner and it is free hold. However, one garage is under lease for the use of the next house.Do you think I need to make an application with the other lenders now and not to waist my time for NW as I cant afford 85LTV?0
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I know for sure that Barclays has no issue with 90 LTV for coach houses.You suggest wait for the NW or proceed to other lenders?
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