Mortgages for Listed Buildings

We support LPOC members and future listed property owners in finding the best listed building mortgage provider.

Remortgage – Equity Release – Best Buys

The special character and age of listed buildings mean that they are often classed as homes of non-standard construction. As a result, securing a mortgage on listed buildings is not always straightforward. Consequently, it is helpful for potential owners to have access to expert support so that they can develop a clear understanding of lender criteria when considering purchasing a listed property.

The Listed Property Owners’ Club (LPOC) regularly receive requests for suitable mortgage providers. The Club has enjoyed a long standing relationship with a specialist company who are one of the UK’s leading independent mortgage brokers with extensive experience in dealing with period houses. They specialise in arranging mortgages and have often been able to save many owners hundreds of pounds per month in mortgage payments. Their advice is always provided in the form of a report, which is initially ‘free and without obligation’.

We also run a regular Finance section in our bi-monthly Listed Heritage Magazine which keeps owners updated with mortgage Best Buys and other useful financial guidance. If you’re not already a member and would like to join to receive Listed Heritage Magazine, please click here.

If you have a specific or unusual problem, have any questions or would like to speak with our personal financial advisor in regards to mortgages please call the Club on 01795 844939.

While there is no reason not to use high street providers in this process, LPOC believe that the more advanced knowledge of a specialist company will better serve both the property and the buyer.


Use LPOC’s trusted specialists to carry out a mortgage survey

In our experience, a key factor in listed building mortgage applications is the survey; most lenders say that they rely on the survey report to make their decision. Unfortunately, less experienced high street surveyors do not understand the nature of listed properties, and issues with damp and timber are often flagged up unnecessarily.

For example, the method of testing damp treatment often results in higher than normal moisture meter readings, regardless of whether or not the damp is a problem. This will often prompt the mortgage provider to demand that the building is injected with chemical damp proofing before releasing funds. These injections are not suitable for the majority of period houses, can cause extensive damage and are frequently rejected by the conservation officer.

Other potentially damaging (even criminal) misdiagnoses include: recommendations to replace traditional lime mortar with cement, instructions to carry out expensive structural reports for historic (non-threatening) movement, and attempts to replace original property features.

In our view it makes sense to turn to specialists companies. Lenders usually won’t refuse to mortgage a property unless they think it’s not reliable security for a loan, and if that’s the case then it’s worth thinking twice about whether the property is right for you at all.

For more information call us on 01795 844939 or use the Contact Us Form.