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Are lenders stricter with mortgages when buying renovations now?

2 replies

GetBackinTheMilkYouRubberyGit · 22/06/2023 12:31

There's a house nearby that needs a lot of work but it has a kitchen with oven and sink plumbed in. The bathroom is fully functioning and modern. Electrics look OK and has a combi boiler.
The estate agent had said cash buyers only...I last bought 5 years ago and our house basically had no kitchen but we got a mortgage no probs.
Are lenders very strict now? I think I'm really out of the loop
We could buy with cash and have the cash to do it up too but just wanted to know your thoughts
Thanks

OP posts:
Geneticsbunny · 22/06/2023 12:33

I would guess it is unmortgagable for another reason?

Resilience · 22/06/2023 12:38

I've usually taken this to mean the house is either unmortgageable (often because it's non-standard construction or has no kitchen/bathroom) or the seller wants a equivocal sale with no chain involved.

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