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I have had dificulty with finding a Buyer who is able to obtain a mortgage on my property.Several times the property has been undervalued and the Buyer has withdrawn.I have had a structural survey done and this still has not helped.Have you any suggestions

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Sorry to hear you’re having problems with selling your property.

Can you let me know what general area your house is in as this does seem to have a bearing upon valuations.

I would strongly suggest that you encourage potential buyers to approach Santander in the first instance as they do appear to be one of the largest suppliers of Non-Standard build mortgages.

Your potential buyers may well be approaching their own bank or building society, many of whom do not lend on Non-traditional built properties full stop.

It has nothing to do with your house being possibly a BISF built house but the fact it is non-standard in construction type which can also include steel framed / timber framed/ poured concrete etc etc. In fact, anything built out of anything other than brick falls under this banner.

Santander being a Spanish based bank, doesn’t appear to hold this against homeowners as many properties in Europe are non-traditional in construction. It’s only the UK that has this obsession with brick.

Halifax may be another option but I haven’t checked their lending criteria lately so this may have changed.

I hope this helps and please keep us informed with your progress.

I’d also be interested to know how / why your property has been undervalued.
Was this down to LTV (Loan To Value) levels?

Regards

Marc

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