Unusual Properties
Hot Topics
- How Does A Joint Mortgage Work?
- When you decide to get a mortgage with another person – both your incomes can be taken into account. The general rule is that you can borrow three times the first income plus half of the second income, or two-and-a-half times the joint income.
- How Much Is The Valuation Fee?
- The Valuation fee covers the expense of the mortgage lender visiting your prospective property to ensure that it is worth what you are intending to pay.
- What Is A Mortgage Indemnity Guarantee (MIG) And Will I Have To Pay It?
- The Mortgage Indemnity Guarantee is also known as a Mortgage Indemnity Premium or High Lending Fee. It protects the lender against the risk of you defaulting on your mortgage debt.
- Right To Buy Mortgage
- What is ‘Right to Buy’?
- What Happens If I Have Bank Defaults?
- If you have failed to meet payments on a credit agreement such as secured loans, unsecured/personal loans, credit cards, store cards or car finances etc, or you have failed to comply with your lender’s requirements, you will be described as having 'defaulted'.
What happens if I have an unusual property?
If you have an unusual property, you may find it harder to get a mortgage from a regular high street lender. However our mortgage partners have all the systems in place to deal with any type of property, and will be sure to find you some extremely competitive quotes.
In general, your property is expected to be made of brick or stone walls and a tile or slate roof. If your property has been constructed of any other materials such as concrete, prefab or wood then your home will be considered as an unusual property construction and this may well cause you to be over looked by the high street lenders. Properties in non-standard locations such as above shops, below street level and high-rise flats are also defined as ‘unusual properties’.
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