The vast majority of people need to get a mortgage in order to buy a property, and this means going to a mortgage lender and finding out what they can offer you. Once you have a mortgage offer, or a mortgage in principle as it is otherwise known, then you can start looking around for the right property for you.
Something that not everyone is aware of however, is the fact that when you are looking at properties, even if you have a mortgage offer, some might not be as easy to get a mortgage for as others. Here are some examples and reasons why some types of property are more difficult to get a mortgage for…
Timber Frame Homes – Timber framed homes are making a comeback for many reasons and you can build your own with timber frame construction kits from somewhere like Merlin Timber frame, however if you are buying a timber frame home, you need to check with your mortgage lender as they may not offer a mortgage or they may want to do extra checks.
Homes with Flat Roofs – Although many homes have a part of the home that has a flat roof, it is houses that are more than half consisting of flat roofs that may cause issues with getting a mortgage and the lender may want more information before they agree to it.
Flats over a Shop – Sometimes flats which are above shops can be an issue for mortgage lenders, and certain types of shops in particular are more likely to be rejected, so be careful when looking for a flat to buy.