Most lenders have guidelines on the types of property that are acceptable security for a mortgage. Generally lenders want to make sure that the property is readily saleable and isn’t likely to have any serious defects in the construction. This tends to favour traditional brick and tile houses. The following are a few examples of the kinds of thing some Lenders may find unacceptable or that may require special conditions on the advance:
  • High Rise Flats (especially ex local authority owned)
  • Steel or Timber Framed properties
  • Those designated as defective under the 1985 Housing Act
  • Flats above shops (especially fast food restaurants)
  • Flying freeholds
  • Leaseholds with only a short time remaining on the lease
  • Shared ownership
  • Special Construction Mortgages

Gloucester Mortgage Centre specialise in providing mortgages for any kind of property through a panel of lenders – even if other lenders will not consider it !

For further information, simply contact Gloucester Mortgage Centre
by telephone , by online enquiry or by email