Trouble with mortgages

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  • #5683

    Hello Camden leaseholders

    I’m looking for your advice about mortgages on ex-council properties. I’m in a position of having had trouble remortgaging my place in Kilburn in recent years, and also having had a sale fall through in 2018 after my buyer was turned down for a mortgage from one of the major lenders (and then basically got cold feet).

    I had no problem at all securing a mortgage when I bought in 2013, but the problem seems to be that banks have become stricter in recent years over properties that have an ‘open deck walkway’ (which mine allegedly does though I would quibble over the definition of this) and also where there are a low proportion of leaseholders relative to council tenants (in my block leaseholders make up 22% of the residents).

    I want to try and sell again at some point in the foreseeable future, but feeling apprehensive about this. A cash buyer of course wouldn’t need to worry about lenders, but I could use some nuggets of wisdom about securing a suitable mortgage that I could pass on to potential buyers!

    Any thoughts gratefully received – TIA!


    what’s wrong with open deck walkway…

    I remortgaged mine just two months ago, 8th floor with open deck walkway…


    At Bourne Estate owned by Camden Council we have balcony deck access flats, mostly rented from the council but getting mortgages are generally not an issue in the last 2 years. Tried a better fee free mortgage broker. BM Solutions tend to be quite good but your indivdual [financial] circumstances might have ruled you out from the lenders that would normally be suitable.


    Thanks for these responses. Encouraging to read that others are not having the same experience as I have had!

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