Your loan-to-value offer may be lower and you may be expected to put down a larger deposit, as is often the case with properties of non-standard construction.Income and affordability requirements may be stricter in this situation to accommodate the additional risk the lender is taking on.Here are the most pressing things to bear in mind: There are a few stumbling blocks you may come across in your application, largely because your options will be more limited as fewer lenders will consider you. What eligibility criteria could be a factor It can be difficult to know where to start, but a broker who specialises in these mortgages will be able to help you find the lender that can accommodate your needs. You’ll be able to find suitable mortgages from specialist providers too, and bear in mind that these will normally be the ones to approach if your property is 100% flat roof. NatWest (provided the roof material is copper, lead, zinc, asphalt or mineralised felt, and that the owner keeps up to date with replacement or maintenance programmes and has suitable insurance in place).HSBC (subject to the valuer’s comments).Halifax (subject to a satisfactory valuation report from the bank’s appointed valuer).That said, if you can meet the requirements you may be able to find a lender to suit, even among high street names, including: Others may only lend if the roof is clad with appropriate materials with a suitable guarantee – such as zinc or copper – and they’ll all require a suitable valuation, and won’t offer the mortgage without the valuer’s approval. While some lenders will offer mortgages, most will have a stipulation that they won’t be able to lend if the property is 100% flat roof. Which lenders offer mortgages for this type of property? Make sure too that the roof has been regularly and thoroughly inspected before you buy, to ensure there aren’t any existing issues. If you’re considering buying a house with a flat roof you’ll need to keep up with the maintenance, which can be costly. These issues can impact the ongoing saleability of the property and therefore its value, not to mention the additional insurance implications, which is why some lenders are reluctant to offer mortgages. Limited life expectancy of flat roof coverings.Potential flat roof house problems can include: Unlike standard homes, which are built from brick with a tiled, pitched roof, flat roof properties are a little different and are therefore deemed risky by lenders. Lenders don’t like flat roof properties because they come under the ‘non-standard construction’ bracket. Why is a flat roof a problem for a mortgage? Not all lenders offer mortgages on flat roof properties and those that do may impose tougher eligibility criteria or higher interest rates, so it’s vital to get advice from a specialist broker who’ll be able to guide you through the process. You can, but because this property type falls outside the ‘standard’ definition, your options may be limited. Can you get a mortgage on a house with a flat roof?
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