Mortgage Valuation Issues Arise from High Number of Rental Properties
UKPulse Property Desk
A couple's flat purchase has been halted after a mortgage valuation identified too many rental properties within the building.
- A mortgage valuation for a two-bedroom apartment found an excessive number of rental properties in the building.
- This issue has prevented a couple from proceeding with their flat purchase.
A couple attempting to buy a two-bedroom apartment has encountered an obstacle following a mortgage valuation. The valuation process revealed that the building contains too many rental properties, which has subsequently stalled their purchase.
The prospective buyers were reportedly in the process of acquiring the flat when the issue with the mortgage valuation emerged.
What this means for you: If you are buying a flat, a mortgage valuation may consider the proportion of rental properties in the building.