Mortgage declined by Nationwide

katzenjammer12

Hello all,

After waiting over 6 weeks for a decision from Nationwide, they have refused to lend because of proximity to social housing and the fact that it has deck access. It is an ex-council leasehold (long lease) flat in a small block of about 12 properties. We had already started the legal process (ordering searches etc.) so it is really disappointing and was a bit of a surprise as it's in a lovely area and has been beautifully renovated and maintained. 

Our broker has advised against appealing because they are rarely successful so that leaves finding another broker and lender who will be more amenable to this sort of property. Does anyone have any suggestions? First-time buyers here so this has sort of come out of the blue. 

Thanks! 

london21

Sorry to hear this, they took a long time to make a decision.

Can your current broker not find a lender that would accept such property?

If not, avoid spending any more money for now. 

Hopefully works out or you find an alternative property. 

katzenjammer12

Thanks! They suggested another lender (Santander) but didn't give us much confidence that the result would be any different with them. I think we might speak with another broker to see whether there are any other options.