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Why can't I get a mortgage?

Why is it difficult to get a mortgage for a property that has had subsidence even though it has been repaired?

Asked on Jan 16 2010, Home Finance in Sunderland | Report content

Answers (1)

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  • Some lenders see it as high risk, as the property may have future problems (although any property might, their argument could be this one may be more prone than others) Also many insurance companies will not insure a property with subsidence issue past or present, so again a lender is not wanting to lend on a building which is difficult to insure. Some lenders will lend though! All you might have to do is use the existing owners insurer. Try an independent adviser who might have knowledge of a mainstream lender who will be willing to lend. Email me if you want me to get one to phone you.

    Answered on Jan 16 2010, Report content

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