We have had a valuation report from the bank which has stated the building has a steel frame when it is definitely a concrete frame.
The bank say we have to wait for the decision to come back from the underwriters before we can challenge it but that a steel frame will carry a minimum LTV of 20%. This wouldn't be possible for us and so this issue is causing much concern!
It is a very frustrating process for something which should be clear cut.
Has anyone any advice/experience in dealing with this kind of issue?
The bank say we have to wait for the decision to come back from the underwriters before we can challenge it but that a steel frame will carry a minimum LTV of 20%. This wouldn't be possible for us and so this issue is causing much concern!
It is a very frustrating process for something which should be clear cut.
Has anyone any advice/experience in dealing with this kind of issue?