Owning your own home

The only thing you can do is try another lender tbh.

Each bank is changing their position but it's not consistent between lenders yet. Santander have taken a measured position for a while so are a good option.

But it is down to the surveyor not the lender (from my experience), if the surveyor says one is required the lender will ask for one, if not it won't come up as an issue.

Metro bank and Halifax

Santander were dicks with calculating my sole trader income due to covid (about 6 months ago). They just looked at my last 3 months bank statements (like I have a consistent income each month) and wouldn't consider lending above X times the average. TSB were much more realistic and compared 3 years accounts with current income.

It's a sign that buying a leasehold flat is a bad idea

My buyer couldn't use Santander for this reason, which was a slight issue when they were the only lender who would loan without EWS1 at that point.

agree,

I should have heeded @Howard advice when i was buying mine years ago, was a PITA to sell even without EWS1

I thought the idea was to pick up bits of rusty shit that fall off the inside of rads? I used to empty ours every few years and it was picking up something

Sadly unless your minted its almost impossible to avoid if you want to buy something in London

Thanks all. We're talking about a bike mechanic and a freelance sex educator who can only afford somewhere due to a sudden inheritance so I don't think freehold is on the cards. Same probably with Metro Bank and Halifax unfortunately @amey

Santander have already said yes on affordability @cjr but I'm also a big fan of tender stem broccoli.

Might it help to get their own surveyor in?

The problem with this is it could be more good money after bad but I'll really feel for them if it falls through as it's in quite a unique position and they're kinda set on it...

Heh, share of freehold flats if you want a different kind of pain

There must be a reason the banks want an EWS1 most non clad buildings are now out of scope based on the RICS advice.

I don't actually know what lender my buyer went with in the end, but we've gone from no lending without EWS1 to 4 flats in our building getting mortgages approved by different banks without one since April.

My building is block and render, under 18 metres, and does have balconies but no wood for reference.

No point getting their own surveyor there must be something that the bank see as a risk factor with the building based on their valuers (surveyor) report.

Might it help to get their own surveyor in?

Not unless they're qualified to give an EWS1. Which will take forever and cost thousands, even if the building owner agrees to it.

Leasehold always sucks but at the least I'd steer them towards a split town house rather than purpose built block to avoid the ews1 issues

https://www.rightmove.co.uk/properties/102869993?fbclid=IwAR3YnBxdOmg9NGo6hNx8uDMl3HEEjXh15a7uKkyt2ptSfAOGu1TdOx6I_lc#/?channel=RES_NEW

What a steal this is 🌚

Waiting for someone to tell you the level of finish makes it good value 😂

It’s finished nice but it’s a shed basically 😅

Just going to crawl into the void haha

It's a fancy van conversion.

The more i look at it the more questions I have. Like where would you store anything, its so fuckin small.

Ah, but the storage is 'Clever storage'. Whatever that means.

Exchanged and completed.
Seems selling to the estate agent works out well in some cases.

Aye by clever you own fuck all. I mean paying 400 grand for a shed I’d be surprised if you could afford anything else

That's a magnaclean and they do pick up stuff but that silver sausage thing is probably on the supply pipe from the mains

There must be a reason the banks want an EWS1 most non clad buildings are now out of scope based on the RICS advice.

I don't suppose they could ask Barclays for their survey or what the reason is?

I feel like they've probably already tried the latter though.

Theirs is also under 18m, brick, no balconies. I am not a surveyor but I don't get it.

Thanks, thought as much :/