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    • Minerva77
    • By Minerva77 6th Oct 17, 1:13 PM
    • 5Posts
    • 1Thanks
    mortgages on flats post Grenfell Fire
    • #1
    • 6th Oct 17, 1:13 PM
    mortgages on flats post Grenfell Fire 6th Oct 17 at 1:13 PM
    I'm in the process of selling my flat which is a leasehold flat within a council managed block. The building is 7 storeys high so I already knew there were a smaller number of lenders who would be willing to lend on it due to it's height because I've experienced that myself. However the person who I've accepted an offer from has now had 2 mortgages turned down by main lenders who had been loaning on it (including my current lender) stating the Grenfell fire as their reason for not loaning on it. The council had previous introduced a significant number of improvements specifically around fire safety following on from the southwark fire a few years ago and they have carried out new assessments since. There is no cladding on the building either. Has anyone else heard of or experienced this and do you have any ideas of lenders who are still willing to lend on properties like this?
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    • David White
    • By David White 6th Oct 17, 1:18 PM
    • 868 Posts
    • 379 Thanks
    David White
    • #2
    • 6th Oct 17, 1:18 PM
    • #2
    • 6th Oct 17, 1:18 PM
    I've not come across this yet albeit it's not really my market.

    I'd be surprised if lenders were happy going on record that they're not lending on a property specifically because of this incident though.... they might be thinking it but to explicitly say it would be bold.
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • Minerva77
    • By Minerva77 6th Oct 17, 2:11 PM
    • 5 Posts
    • 1 Thanks
    • #3
    • 6th Oct 17, 2:11 PM
    • #3
    • 6th Oct 17, 2:11 PM
    I thought that too. From what I've been told it sounds like my purchaser's broker has been given that information from the lenders and it was around fire safety following on from "a recent incident".
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