- “Hard to place” usually means a lender worries about resale value or valuation.
- Every lender has its own list of property types it will and won’t accept.
- Knowing the issue before you offer, or before the valuation, saves time and fees.
- A survey and a good conveyancer matter even more with an unusual property.
Non-standard construction
Most lenders are happy with brick and block under a tiled or slate roof. Beyond that, criteria vary widely: timber frame, steel frame, concrete (including pre-cast reinforced concrete, or “PRC”, homes), thatched roofs, cob, and modern methods of construction. Some types need a repair certificate or a specialist report.
Flats above shops and commercial premises
Lenders can worry about noise, smells, fire risk and resale, particularly above takeaways, pubs or launderettes. Some will lend, some won’t, and some depend on exactly what the business below is.
Ex-local authority homes
Former council houses are often treated like any other home. Flats can be harder, especially in high-rise blocks or blocks with deck access, and where a large share of the block is still council-owned.
Short leases and leasehold issues
Many lenders want a set number of years left on the lease at the end of the mortgage term, and a lease that’s getting short can affect both lending and value. High or rising ground rent and service charges can also matter. Extending the lease is sometimes part of the plan.
Other things that can make a lender pause
- cladding or fire-safety questions on flats (sometimes needing an EWS1 form)
- Japanese knotweed nearby or on the property
- agricultural ties, annexes, or a lot of land
- studio flats or very small flats
- properties needing major work, or without a working kitchen or bathroom