Electric T junction and need a mortgage

patto1412

I really hope someone can help, I have rented my home for 15 years from an housing association after I sold them mine as I was in the middle of a new estate they wanted to build, I then rented off them but they knew I wanted to buy this house.I  am now in a position I can get the right to acquire from them. The house value will be approx £150k so I have been checking with a broker to see if I can get a mortgage with me being 44, I have never missed any payments in anything ever.
This was no problem he said with the mortgage and be fine and could use the right to acquire £9.000 towards my deposit ( happy days ) then I said I have a support line from an electric post in my garden and would get extra discount from the property price. He asked for pictures of this and said it’s a t junction not a support cable for the post and can’t get a mortgage without a 20% cash deposit of own money. I cant believe it. 

I love the area and my house, others here sell in less then a month I want to buy it and have no intensions of moving. 

Can I get a mortgage still on the house? Any advice would be great as we just need to find a mortgage for the property and it’s 1 support line into the front garden. I never knew was classed as a t junction. 

Spoke to national power grid and it can’t be moved off the property. 

I need to secure a mortgage and then have 12 weeks to get the paperwork completed from the housing association. Can you advise who I can get a mortgage from or what I can do. Thanks 

 

Robin9

Can you post the pictures please

patto1412

Here is a picture of the support in garden and the post on the street, I hope someone can advise if had a mortgage on a similar property. 

user1977

Eh? It is just a support cable. Never heard of such a thing affecting mortgageability.

MWT

The support cable should not be the biggest issue, but proximity to the overhead power lines may reduce the pool of lenders.

I'd certainly talk to another broker though, especially if the current broker is one of the large companies offering 'free' services.

user1977

MWT said:

The support cable should not be the biggest issue, but proximity to the overhead power lines may reduce the pool of lenders.

Would it? It's not that rare to have the power distributed by overhead lines. I could see the issue if it was a bigger transmission line or close to a big pylon.

MWT

user1977 said:

MWT said:

The support cable should not be the biggest issue, but proximity to the overhead power lines may reduce the pool of lenders.

Would it? It's not that rare to have the power distributed by overhead lines. I could see the issue if it was a bigger transmission line or close to a big pylon.

For most lenders I doubt it would be a problem if correctly communicated to them on the survey, but given that pole appears to be carrying 3 phases, it might be an issue for a few lenders. 

Others have reported issues in the past, with the outcome being very dependent upon what the survey says about the power lines, but I wouldn't depend on one of the 'free' brokers to see this as a simple transaction, so the comments from the broker so far may just be effectively saying they don't want the job...

I'd take this to a good, possibly local, broker who has dealt with this arrangement before.

.

patto1412

I always thought it  was a support cable but I was then told an electric T junction and high risk? This was a mortgage advisor and he said only mortgage available was with a 20% deposit as high risk. I am now in a position to buy the family home and cried and not slept worrying that it’s now not possible for me. I will get more advice and help, fingers crossed.

user1977

patto1412 said:

I always thought it  was a support cable but I was then told an electric T junction and high risk? This was a mortgage advisor and he said only mortgage available was with a 20% deposit as high risk.

It's a "T junction" because it has the cable going across the road, so that's why there's the support to balance it - but that's all it does, it doesn't look like there is any current going down it. Not sure what's "high risk" about it, other than it might put off some buyers (and obviously gets in the way of what you can do with the garden).

MWT

It is unlikely to be anything much to do with the support cable, and more to do with the proximity of the pole carrying the cables.

Talking to a good local broker (probably one that charges a fee) is likely to be the best way to proceed.