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Finance for Un-Mortgageable Properties

Our Mortgage Service - Raising finance for an unmortgageable property

Why choose our mortgage service?

Fair Mortgages can provide you with a first class mortgage service. 

Special features of what we offer include:

  • Whole of market service
  • Access to leading market rates
  • Access to exclusive mortgage deals not available on high street
  • Fast turnaround - call us if you need to move fast!
  • We have lenders who will take into account previous defaults and missed payments 
  • If you are looking to raise finance we will look at all your finance options

To investigate your mortgage options call our specialist team on 0117 313 7780 or fill in our call back form.  

"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. 

As your mortgage is such an important transaction, good advice is imperative.

Right Bullets

"We know that the internet is the first port of call for many people when looking for mortgage solutions; our view is, yes use the internet to do your own research , but then bring it to us and we’ll let you know how your findings compare and then give you the information and advice you need - so that you can make the right decision for your future.” Adam Arnott, Head of Mortgages & Protection

Finance for Un-Mortgageable Properties

Generally speaking, conventional mortgage providers will only lend on properties that are considered to be habitable at the time of purchase. To be considered habitable a property needs to have certain features in place such as being weatherproof and having functioning plumbing, so if you wish to add these features to a property such as a disused barn or warehouse, you may need to consider your financing options more carefully. A bridging loan could offer you the chance to finance fixing up a property even if you cannot get a mortgage on it. As long as you have sufficient equity in your home to get a secured loan, you may be able to get a bridging loan to fund the purchase and renovation of an un-mortgageable property.

What counts as an un-mortgageable property?

Most importantly on a bridging loan as it is secured on a property, we will consider every application irrespective of your personal circumstances. Some examples of the types of property that you may face difficulty in securing a mortgage, and in which a bridging loan may be useful, for could include:

  • Dilapidated properties that are not considered to be in a habitable state
  • Change of use properties – conversions may not be funded by all mortgage lenders so you may need to seek out alternative finance
  • Tower blocks
  • Buildings with non-standard construction materials – such as thatch or concrete
  • Other property types will often be considered – speak to your chosen lender to discuss this possibility

Getting Finance for Un-Mortgageable Properties

If you cannot get a mortgage for the property you would like to purchase, the good news is that there are still options to help you out. A bridging loan can help you to finance the renovation of an unmortgageable property and has the advantage of being quick to set up and flexible in terms of the approach to borrowing.

Some finance providers will help you to structure your borrowing by arranging to arrange to fund the purchase of the property and then releasing the remainder of the money in instalments as the renovation project unfold.

If you are unsure about what bridging loan product is suitable for you to speak to one of our advisers click here »

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