Why ex local authority flats don’t have to be a problem
When it comes to securing a mortgage for ex-local authority flats, many brokers hit a wall with high street lenders. These properties often come with quirks like low square footage, deck access, or limited private ownership. These potential obstacles can make financing options more challenging with most lenders… however, at Quantum Mortgages, we specialise in turning those “problem properties” into straightforward applications.
Why ex-local authority properties are often rejected
High street lenders typically avoid:
- Low private ownership ratios
- Flats under 30 square meters
- Deck access or balcony access flats
- Number of storeys in a block
- Non-standard construction
These features are common in ex-council properties, but they don’t have to be deal-breakers.
Your specialist lender for ex-council flats
At Quantum Mortgages, we say yes where others say no. Here’s how we’re different:
No minimum private ownership requirements
Many lenders require a minimum percentage of privately owned units in a block. We don’t. Whether it’s 10% or 90% privately owned, we’ll consider the case.
Flats under 30sqm
Properties under 30 square metres are often rejected by mainstream lenders. We understand that size isn’t everything, especially in city centres where space is at a premium.
Deck access
Deck access flats are common in ex-local authority buildings. While many lenders see them as a risk, we’re comfortable lending on properties with deck access.
Why brokers choose Quantum Mortgages
We’re not just another lender; we’re a specialist mortgage provider who understands the real-world challenges brokers face. Our flexible criteria and common-sense approach make us the go-to choice for:
- Ex-local authority flats
- Non-standard construction
- Unusual property types
Let’s work together
If you’re a broker with a tricky case involving an ex-council flat, get in touch with Quantum Mortgages today. We’re here to help you say “yes” more often.
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