My partner and I are about to put our flat on the market. It's a 2 bed above an A3 unit in a commuter town just outside London.
We're in the process of getting valuations from estate agents and the first one told us that although he thought there would be lots of people interested in it, they may not be able to get a mortgage for it because it is above an A3 unit and suggested we rent it out.
We can't rent it out as we need the equity to buy somewhere else.
I had no problem getting a mortgage, but that was 6 years ago now and also had no problem remortgaging it a couple of years ago.
Has anyone had any recent experience of this? Is this a real problem in the current market conditions?
We're in the process of getting valuations from estate agents and the first one told us that although he thought there would be lots of people interested in it, they may not be able to get a mortgage for it because it is above an A3 unit and suggested we rent it out.
We can't rent it out as we need the equity to buy somewhere else.
I had no problem getting a mortgage, but that was 6 years ago now and also had no problem remortgaging it a couple of years ago.
Has anyone had any recent experience of this? Is this a real problem in the current market conditions?