Bank rejected last 75% shared ownership purchase as next to industrial property

toastiest

Does anyone have any experience or advise for me, please? 

I have a mortgage with a provider for 75% of a shared ownership flat, I have already remortgaged with them once before. The flat has always been next to this industrial processing building which smells mostly in the summer and intermittently different times of day/wind direction/their activities.

The bank's surveyor has said that being next to this building will affected the enjoyability and ability to mortgage so the underwriter has rejected the application.

I am stuck as I have a few years left on a low interest mortgage for the part I already have so moving to another provider right now does not make sense. I've already spent hundreds instructing my own RICS surveyor and solicitor deposit.

Is there anything that can be done?

housebuyer143

Unfortunately not. You cant make the lender lend to you and at any time their criteria can change (as you have experienced) and then the property they were happy to lend on before, they won't do again.