Help! House is un- mortgageable

[GrrrrrreeeNotgreatactually]

Name change as I have spoken to so many people in RL today.
We accepted an offer two months ago. Our house is an ex local authority house with a PRC certificate. The other half of our semi is still local authority. They say that the previous tenant was offered the chance to have their property repaired but declined.

Now we have been told that there is very little chance that our buyers can get a mortgage. We were not told any of this when we had a mortgage, they didn't even ask if next door had had the work done! Now we're probably not going to be able to sell unless to a cash buyer so could be 100k less, meaning we can't buy anywhere else.
We have to move, there is no choice about that. So is our only option to rent ours out and rent another property?

Anyone?

Sorry it’s not clear why next doors house has any impact on you selling yours??

What’s PRC?

definitely not understanding what the issue is!

Are you talking about a non standard construction property?
If so that's going to be difficult.

Who is they? The previous tenant of your property or next door? What needed repairing and in which property? Sorry, it's really unclear what the problem is.

It's a non standard construction property. They are our next door neighbours.
We are the sellers.

Our side has been repaired, next doors hasn't (not their fault)

I thought if you had the PRC certificate it was much easier to get a mortgage on it, who is saying your buyers won't be able to?

For PP, PRC is the pre cast concrete housing, doesn't meet regulations now and unless you have it repaired to make it deemed as safe you often can't get any mortgage on it.

We have the certificate but as a semi, they're concerned about next door not having had the work done.

If yours has the certificate, what is the problem?

You say the previous tenants next door refused - what about the current tenants ? Can they get the repairs don't now.

If you have the certificate then why would it matter what next door has had done or not? Surely if repairs were dependent on also happening next door you wouldn't have been granted the certificate

So cross posted.

Who is 'they' ?

How much would the work cost? Would it be better as an option to pay for all or some of it than drop price by £100K?

I don't think the NDN would be amenable to it. Plus we don't have that money spare!

I have heard this before. Some lenders don’t like only part of a property being repaired. I have certainly known people get mortgages on repaired ones.
Anything which reduces mortgage availability could cause price issues, but it’s unlikely to be completely unmortgageable if it has already been repaired.

I thought there wouldn't be a problem as we have the certificate but two separate mortgage brokers have said that it will be problematic, not only in terms of getting a mortgage but also if they want to sell in the future.
They're going to pull out :(

Would selling by auction be an option for you?

Which repair scheme did you use? The Halifax scheme is less thorough although I assume both involve the erection of a brick built party wall.

Can you sell the property back to the council?

And only get what they initially bought for 😳 madness

Can you sell it back tot he council?

Who is your mortgage with? Could your buyers try a different lender? Lenders have different risk appetites.

I didn't buy it from the council and I wasn't here when the repairs were done. We paid over asking price three years ago and the house was priced no differently to a traditional house. I need to sell it and be able to get enough for an equivalent.

Offering it back to the council is a good idea. Friend did this recently and got the market value.

And it doesn’t matter that you didn’t buy it from the council