Hi All,
Had to come on board this evening just to try and get some understanding as to why a valuer has recommended not lending on our property due to the village water tower?
We are coming to the end of our current five year fixed deal with our existing mortgage company and so have started to shop about. Our broker suggested three companies one with an arrangement fee and two free ones. We have opted for the arrangement fee one as over the next two years works out to be slightly cheaper.
Being self employed in the construction industry this process has been fraught with issues but this one has really stunned me. Knowing our property would need valuing, this evening I took a call from our broker letting us know someone has viewed it and has recommended not lending on it due to the proximity of a water tower. Now it is fair to say we are close to it but our boundary is not the boundary of the water tower compound. The tower was built in the early 70's and is of concrete construction and can been seen from several miles away (Norfolk is fairly flat!)
Does anyone know of reasons why this would of been recommended as refusal to lend and if there are any ways of appeal. After all we have now paid £199 arrangement fee.
Thanks for reading.
Had to come on board this evening just to try and get some understanding as to why a valuer has recommended not lending on our property due to the village water tower?
We are coming to the end of our current five year fixed deal with our existing mortgage company and so have started to shop about. Our broker suggested three companies one with an arrangement fee and two free ones. We have opted for the arrangement fee one as over the next two years works out to be slightly cheaper.
Being self employed in the construction industry this process has been fraught with issues but this one has really stunned me. Knowing our property would need valuing, this evening I took a call from our broker letting us know someone has viewed it and has recommended not lending on it due to the proximity of a water tower. Now it is fair to say we are close to it but our boundary is not the boundary of the water tower compound. The tower was built in the early 70's and is of concrete construction and can been seen from several miles away (Norfolk is fairly flat!)
Does anyone know of reasons why this would of been recommended as refusal to lend and if there are any ways of appeal. After all we have now paid £199 arrangement fee.
Thanks for reading.