Mortgages for Unusual Properties
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"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.
Compare mortgages for unusual properties
Whether you want to renovate a thatched cottage, convert an old industrial bui8ling into a stylish modern home, or even convert a lighthouse, there is likely to be a mortgage out there for you.
Although borrowing money to finance the purchase and renovation of unusual properties can be done, it is not generally something that most high street mortgage lenders would offer.
Understandably, many mortgage lenders see this type of property as a risky investment because they cannot be sure of its resale value, or of its current inhabitability.
By approaching a mortgage provider who specialises in mortgages for unusual properties, you could save yourself time and money.
Getting mortgages for unusual properties
Some of the issues you may encounter when trying to get a mortgage for an unusual property could include:
- Buying a flat in a tower block - the non-standard construction of this type of building may put off lenders
- Converting a disused commercial property into a house or flats – you will need to check that you have the correct planning permission and that the building meets guidelines for residential conversion before lenders will consider your mortgage application
- A flat above commercial premises or in an unusual location – mortgage lenders may be concerned about noise pollution or unconventional location affecting resale value in the future
Speak to our specialist team to help you find the right mortgage option for you. To speak to one of our mortgage advisers click here »