Help! Need mortgage on a Log House

[Bliss3333]

I have a conditional offer on a fabulous log home in Scotland. Great credit, 40% down payment.
However, the high street banks seem reluctant to give me a mortgage because of the distinctive build type (massive timbers). The house is gorgeous and build like a battleship. It is only a few years old and is on a loch. It is the dream house.

Anyone have any advice for me or know of a lender that would see past the 'non-standard build' label?

I live in a wooden house and my mortgage was with Santander - and the people we bought it off were with Halifax. Who have you tried?

I am currently going through the process with Halifax (they hold my current mortgage.) It was denied by YBS - they claimed there was 'no market for log houses'.
I will pick up with Santander if Halifax doesn't come through.

I am in a bit of a weird position. I have sold my home to a developer and am waiting for the official 'get the f*ck out' notice. Once that is received, I have 90 days to vacate. It is very nerve-wracking. Add the mortgage uncertainty and I will probably spend Christmas in the fetal position. lol

Btw, current owners did a self-build and don't have a mortgage.

Why go through the hell of a self build... and then sell? What's wrong with it?

Sounds bloody gorgeous.. am jealous! Good luck with the mortgage!

Get yourself to a good mortgage broker ASAP, they are worth their weight in gold in unusual circumstances and will be able to point you in the direction of lenders who deal with quirky properties

The mortgage broker I am using currently seems to be completely at sea as it isn't standard.

It just seems so odd to me that they wouldn't mortgage. The home report is stellar and their liability would be only 60% of the home's value. So frustrating! And of course, hard to get any answers over Christmas.

You need a good broker, and it will be a lot more work for the broker than a bog standard mortgage. A broker that does not charge fees may not be interested in doing the work, especially if it is a smallish mortgage, but probably won't explicitly state this too you.

The broker should contact each lender individually before they submit an application, so their underwriter can assess whether it is something they will lend against.

If it is really important to you, contact a few brokers, see who sounds most receptive to helping you, and consider brokers who charge fees if it is a small mortgage, they should be paid for their work.