Changes to Home Finance Property Types
We have made a number of changes to the types of property Gatehouse Bank can finance in the ‘Home Finance Property Types – Guidance Notes’ document which can be found here. The properties which we are unable to finance now also include:
- Properties which require stage payments.
- A property with a flying freehold of over 25% of the total property. Anything below 25% will be considered subject to valuer’s comment (no change to existing policy however this is now clarified within the Guidance Notes).
- Properties affected by or within influencing distance of any significant factor which will have a negative impact on the property’s value or re-saleability, i.e. overhead pylons, coastal erosion, unsatisfactory mining search, or properties likely to be adversely affected by local planning.
Our teams remain available to deal with your queries via phone and email, details of which can be found here.