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Refused a mortgage down to construction of extension

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  • Refused a mortgage down to construction of extension

    Hello All,

    I'd be very grateful if anyone could offer me some advice.

    I've had an offer on a house accepted, but have had the mortgage refused down to what the mortgage companies surveys have called substandard construction of an extension.

    The extension in question is apparently roughly 30 years old (although it doesn't look that old) and so both the current occupies and presumably the previous owners have managed to get a mortgage with it in the current condition. The surveyors have told us the issue is that it is a timber framed extension with single thickness shell on it and that isn't up to standards.

    I am now in a situation where I can either try another mortgage company and hope they are less stringent, or pass up on a house I like and have no alternatives to.

    So, now to the question (sorry I've waffled on) does anyone know if this type of construction is such an issue that I will struggle to find someone willing to lend on or did I happen to pick a company that just happen to be very picker?

    I don't want to give up on the property, but also don't want to keep paying for surveys and getting rejected or end up with a house I can't sell in the future or I have to spend a lot of money having put right (the extension is where most of the dining room and kitchen is!)

    So if any surveys are out there or anyone has been through the same I'd be really grateful for any advice you could offer.

    Thanks

  • #2
    Re: Refused a mortgage down to construction of extension

    Talk to a mortgage broker - don't limit yourself to just one mortgage company as it's better to have deal options you can sift through, rather than chase one product after another until you find the right one.

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