Mortgage agreed for Brighton flat in Grade 2 listed building
Two first time buyers have been assisted by Trinity Financial to purchase a stunning Grade 2 listed flat in Brighton.
The couple had agreed to buy this distinctive property, but they struggled to find a lender willing to provide a large enough mortgage on a listed building.
Our broker researched the market to find a lender offering just over five times their salaries. Also, one which was willing to lend against the converted flat in a five-storey building next to the sea.
Most lenders advise that the more unusual properties would normally be subject to comments by valuers. This opens up the risk of them saying ‘no.’
Trinity Financial called the our contact at the lender to check the flat is likely to be suitable for mortgaging to avoid the couple having to pay an unnecessary valuation fee. Often, the number of floors in a block of flats limits the amount lenders will advance.
The mortgage was agreed on a capital repayment basis, with the bonus income of just one applicant being considered. In addition, Trinity Financial’s broker secured for the buyers the second most competitive fixed-rate available at the time.
Call Trinity Financial on 020 7016 0790 for help to secure a mortgage or book a consultation
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