LTV on ex-council properties - why so low??

Dan_Collins_2

OP what is your status? Self emp? Bad credit history??

If your ok then go back to the high street.

I have en ex local auth house, it was nearly twice the size of the new one my wife wanted, well felt like it! Good street 100% private owned and no chavs etc!

But at the end of the day an ex council house does not have the sales appeal as the new and pretty plaster board houses!

rdsmortgageman

What area is your property in and who is your lender? Are there penalties with the existing lender? There are other lenders who will lend higher depending on your situation.

caroleh79

Dan_Collins wrote: »

OP what is your status? Self emp? Bad credit history??

If your ok then go back to the high street.

I have en ex local auth house, it was nearly twice the size of the new one my wife wanted, well felt like it! Good street 100% private owned and no chavs etc!

But at the end of the day an ex council house does not have the sales appeal as the new and pretty plaster board houses!

Exactly - you get so much more house for your money though than the shoe-box new builds........

caroleh79

rdsmortgageman wrote: »

What area is your property in and who is your lender? Are there penalties with the existing lender? There are other lenders who will lend higher depending on your situation.

We are in a good and sought after area in Lanarkshire. Going to give Nationwide a try..

rdsmortgageman

I've never had this problem with 4 in a block ex council before. Have done 100% FTB in many parts of Scotland.

There is normally a limit of 75% on Right To Buy, but this is when purchased by local council.

I did a case in February March this year where the property was ex council four in a block. A&L lent 90% no problem (probably would have gone to 95%).

Best speaking to a Whole of Market Broker.