We are selling our house and buying an ex-housing association flat, three bedrooms in a very desirable area.
We are buying it with equity but wanted to port over £20k of our existing mortgage.
We have never missed a payment and DH is in secure, well paid employment.
We have just paid £160 for a surveyor to tell us that because the flat needs work and is in an area of social housing, possibly making re-sale difficult, it is an insecure asset.
How fucked up is that?!
It is in a SE town where a small two bed house will set you back £450 +. We are buying the flat at £175k outright and just wanted a mortgage to make the refurb budget a bit more comfortable.
I want my £160 back.