Morgage advice (Chelsea building society)

Networkrail · Joined: 05 Dec 2005 Posts: 2

Hi Peeps wonder whether you could help me with a little problem i have?
I am buying my first home and i tryed to get a morgage with the chelsea building society everything was going gr8 they said i could have the morgage for £113.000 then we paid for the survey witch took place last tuesday. we received the survey today and it said everything was fine the house was worth wot they where askin and there was no faults with the house (it was in very good condition) it says its ex local athority and was built in 1950. Its an end terraced but the only thing is its built of concreate and not brick but said there was no problems yet the Chelsea have turned us down saying that they will now not give us the morgage due to the house being concreate and not a proper construction. Im gutted we was ment to move in on the 5 of jan. has any1 else on the forum had this problem?

chow · Posted: Tue Dec 06, 2005 2:23 pm Post subject:

Are you on the East side of the big pond? Or the south side of the bigger pond? I think you are English or an Aussie by the usage of some keys that relate to money and most of your sentance structure. :D

Welcome to a US discussion area!

However, I do believe this is a consern due to what the lender has for acceptable building materials.

Here is a suggestion, It usually works for us in the continous 48 states of the US. Ask the company if they will help you find another lender who will grant you a loan, with the building materials and release the study of the building you paid for-to them. If you feel comfortable with this company, and they don't loan funds based on the materails the house is made of, then ask them if they know anyone who does. The other idea I have is ask people who have like and same homes, where they aquired funds from to purchase, and go there. You might also contact the local city, towne, or area offices who keep land records and ask if you could view the names of companies who have granted loans to homes like the one you are trying to purchase. (In the US, once a loan is made, the lender and property owner is recorded-and that is public record, and we can view it either on line, or by going to our recorder's office.)

Did I help you??? Since our basic structure of record keeping is based on what we learned 300 yrs ago from England-I wouldn't think I would be that far off with these ideas.

Networkrail · Joined: 05 Dec 2005 Posts: 2

Yes thanks for the help. Sorry i thought that i was in a uk morgage forum
Your advice has given me a few new ideas thanx.
P.S. Love the Usa was in vegas in september Gr8 place.

chow · Posted: Wed Dec 07, 2005 8:04 pm Post subject:

I can direct you over to Source Media or Thomson Media, and they have offices and sites for many areas of the mortgage and financial world. (we are all tied together anymore, so it is easy to cross over)

They are in the UK, and the moderator of mortgagegrapevine.com would be able to steer you to some of the sites that they have for consumers or general knowledge. Email her, and tell her that you tripped across us, and "chow" thought she may have a few sister companies to send you back to your side of the pond.

Tell "Red" I said Hello! :wink: