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Howard Lampe







My Mum and stepdad recently lost their home due to illness and had to sell up and are now renting.

I need your help/advice urgently and dont quite know where else to turn.
My Mum and stepdad recently lost their home due to illness and had to sell up and are now renting.
They are both getting on and i was thinking of buying a house so i asked if they would liek to move in with me.
We found a lovely 3 floor victorian semi big enough to accomodate all four of us including my partner.
We spoke with Natwest, explained the situation and they were fully aware of what we wanted to do. I passed all the crdit checks etc and they instructed a valuation.
They have now turned round, after me paying for their valuation and a full structural surrvey and said they will not lend as there are too many bedrooms (currently 11 that i want to put back to 8 how it was originally).
I dont think this is excessive for a 4 person home and my partner and i want to have at least 5 kids over next few years.
I can’t see their issue.
Can you offer me any advice or help?
Im absolutely gutted about the whole situation and my parents ahd their heart set on it. My mother is beside herself with worry now.
Yours Faithfully
Sean Booth
Dear SB,
Unfortunately when it comes to buying a home the lender is free to say ‘no’ to applications for loans. If this really is about there being too many bedrooms they should have made it clear before you spend money that they didn’t lend on properties of this size but I suspect that’s not the only reason they turned you down. I know it means spending more money but talk to a range of other lenders and see what they say. Make it very clear what size the house is and who will be living there. Better still find a mortgage broker to help with finding the right mortgage for this project. Brokers know who will and won’t lend on different types and sizes of properties.
Natwest may have been suspicious that you were intending to develop this property on a commercial basis: convert it into flats and let some out or even sell them off. To do that you would have to apply for a different type of mortgage – it wouldn’t qualify for a domestic mortgage.
Unfortunately buying property can be rife with costly set backs. The project isn’t dead as long as you can afford to have another try at getting a mortgage so don’t despair. Give yourself the best chance that the next lender you approach will say yes by shopping around, gathering as much information as possible and getting a broker’s help. Use an online search engine to find various organisations that can give you details of local brokers or ask friends for recommendations.
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