We recently helped a first-time buyer who was at risk of losing out on their dream home after their mortgage was declined due to a valuation issue.
The property they’d set their heart on had some quirky, unique features that raised concerns during the lender’s valuation process. As a result, their application was rejected, and they were left thinking the purchase might fall through.
Thankfully, they got in touch with us at Path Mortgages before giving up. We reviewed the case in full and knew straight away that there were still options on the table. With some digging and the right approach, we found a specialist lender happy to consider the property, even with its unusual features.
Just one week after submitting the new application, we had a mortgage offer in place and the buyer was able to move forward with confidence.
Not every property fits the mould, and not every lender is set up to handle something a little out of the ordinary, but that doesn’t mean it’s a lost cause. If you’re buying a unique property and hit a roadblock, don’t give up before speaking to a broker who knows where to look.
*Your home may be repossessed if you do not keep up repayments on your mortgage*
