buy to let

[auntsallyann]

I was accepted for a buy to let re-mortgage, had the valuation done, but because the valuer had marked the property as poor for demand and future saleability they are now refusing to give me the mortgage. I have asked if they would reconsider as I have now had the property decorated and carpeted throughout. i explained to them that the property was in poor condition as it had not been lived in for 3 years and it was full of junk, dust and peeling wallpaper when the valuer came. Now it has been cleaned throughout it looks totally transformed and it is genuinly a lovely property, with upvc d/g and a very nice kitchen and bathroom. I have to admit when the valuer came it was a bomb site! With hindsite I should of wated until the house was empty and cleaned before he came. But the lender is saying because it has been keyed onto the system they will not accept a new valuation.Is there anything i can do to appeal the lenders decision.

[Velvetee]

Ask your broker to look at other lenders for you and request a new valuation company to carry out the survey.

[Eve]

Check on the current lending status of the lender as some are not doing any new business at the moment or cutting down on the new business they do and lending criteria.

There are still lenders out there doing BTL mortgage products.