Unusual properties can deter lenders

Lenders can be reluctant to grant mortgages on unconventional properties such as listed buildings or eco-friendly homes, a firm of independent financial advisers has claimed. Lansdown Place spokesperson Simon Harris explained that lenders find it harder to discern a rare property's value, although they will all still consider a borrower's credit record and the size of their deposit before deciding whether to offer them a mortgage. He said that listed buildings, of which there are around 370,000 in the UK present according to English Heritage, are relatively easy to obtain finance on, but that mortgage providers will see any essential renovation work as increasing the attached risk.
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