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Mortgage on property next door to pub

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So we've put an offer in on a share of freehold flat in a smallish building. We were aware from the beginning that we may struggle to get a mortgage however, because the building is next door to a pub. This is in a small village, and the pub is a country pub which is mainly used by walkers, so not a rowdy one! The pub isn't connected, it just shares a land border with a fence between it. It is probably around 20-30 meters away from the building.

Anyway, Barclays have now declined our mortgage application, saying that they have no issues with us as applicants (and would happily give us a mortgage on a different place), but that their valuer has advised not to lend on it due to resaleability.

We really love this place, and so we're keen to explore other options. Our mortgage advisor is currently contacting Nationwide, but just wondering if anyone has any experiences of other banks who would lend on this property at the moment?

Thanks!

Comments

  • ACG
    ACG Posts: 24,601 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    A lot of it will come down to the surveyor, it may fit criteria but if the surveyor does not like it there could be a problem. 
    I do not think Barclays were a particularly good shout personally as I would never have expected them to agree it. Nationwide might be a little more likely. 

    I think you just need to trust your broker to do their job. Some lenders will allow you to send in a photo to get an indication upfront. I had one with a electricity substation earlier in the year, we had that particular issue pre-agreed before an application went in and surveyor went out. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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