Studio flat mortgages in London and the south east
Trinity Financial has access to a host of banks and building societies offering both residential and buy-to-let mortgages for studio flats.
Many of the lenders require studio flats to be a minimum size of 30 square meters, although there are handful of banks potentially happy to lend on properties below this limit.
The increase in house prices over the last few years has increased the popularity of studio flats particularly in London and the south-east. However, they can still be difficult to secure finance on.
Aaron Strutt, product manager at Trinity Financial, says: “If the property is in a nice area and it’s in a good condition, the lenders will be more open to providing mortgage finance. However, this is subject to the property valuers comments and the report.
“The lenders tend to prefer studio flats in prime locations across London and the south east. We recently arranged a remortgage for a client turned down by one lender because the flat wasn't big enough although we secured them a low two-year fix.”
One large building society recently offered a £500,000 plus mortgage for a 22 square meters flat in South Kensington. Their in-house valuation team said that they were happy with the property and the floor size prior to the valuation being instructed. This helped to ensure the valuation fee was not wasted.
If you would like help to secure a studio flat mortgage, call Trinity on 020 7016 0790.
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
