Mortgage advice - what's the problem with open deck access?

Mortgage advice - what's the problem with open deck access?

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Animal

Original Poster:

5,079 posts

253 months

Tuesday 9th December 2014
quotequote all
Can anyone shed some light please? Have had a mortgage valuation rejected for Woolwich because of the above but when I queried with them they couldn't explain what the problem actually was!

Sarnie

7,517 posts

194 months

Tuesday 9th December 2014
quotequote all
I had one declined for the same reason recently.......lender wouldn't explain why as such, other than "we don't lend on properties with open deck access"................

Du1point8

21,495 posts

177 months

Tuesday 9th December 2014
quotequote all
Is it a flats/property that have access from a balcony or open-decking area?

That is the general meaning, they don't like access to the property like that.

Halifax used to be one that authorised mortgages on them, but don't expect any good deals.

Animal

Original Poster:

5,079 posts

253 months

Tuesday 9th December 2014
quotequote all
Du1point8 said:
Is it a flats/property that have access from a balcony or open-decking area?

That is the general meaning, they don't like access to the property like that.

Halifax used to be one that authorised mortgages on them, but don't expect any good deals.
Yes. I called the lender (Woolwich) to ask what the problem was and they told me it's outside their acceptance criteria (why they didn't tell me before I paid or a valuation etc I don't know) but couldn't explain why it was a problem! Talk about 'Computer says no'

Du1point8

21,495 posts

177 months

Tuesday 9th December 2014
quotequote all
Animal said:
Du1point8 said:
Is it a flats/property that have access from a balcony or open-decking area?

That is the general meaning, they don't like access to the property like that.

Halifax used to be one that authorised mortgages on them, but don't expect any good deals.
Yes. I called the lender (Woolwich) to ask what the problem was and they told me it's outside their acceptance criteria (why they didn't tell me before I paid or a valuation etc I don't know) but couldn't explain why it was a problem! Talk about 'Computer says no'
Talk to sarnie on PH and ask him for open deck mortgages, Im sure he can help, maybe porting across the current valuation, surprised you got so far to actually get the valuation as I would have thought they would have attempted a bit of research on the property first.

Animal

Original Poster:

5,079 posts

253 months

Tuesday 9th December 2014
quotequote all
Sarnie said:
I had one declined for the same reason recently.......lender wouldn't explain why as such, other than "we don't lend on properties with open deck access"................
Can you suggest any alternatives? It might not be a problem but I definitely don't want to fork out for another valuation without being certain!!

Burgmeister

2,206 posts

195 months

Tuesday 9th December 2014
quotequote all
This sounds odd...what do we mean by open deck access?

Du1point8

21,495 posts

177 months

Tuesday 9th December 2014
quotequote all
Burgmeister said:
This sounds odd...what do we mean by open deck access?
Generally the definition is having a continuous inset balcony at each level onto which the front door of each flat on that level opens.

usually found on most large flats.

Which is weird as my friend had no issues on his new build that has a long walkway that gains access to all flats on that level.

Animal

Original Poster:

5,079 posts

253 months

Tuesday 9th December 2014
quotequote all
Du1point8 said:
Generally the definition is having a continuous inset balcony at each level onto which the front door of each flat on that level opens.

usually found on most large flats.

Which is weird as my friend had no issues on his new build that has a long walkway that gains access to all flats on that level.
Yup - I just don't know why it's such an issue!

Sarnie

7,517 posts

194 months

Tuesday 9th December 2014
quotequote all
Animal said:
Can you suggest any alternatives? It might not be a problem but I definitely don't want to fork out for another valuation without being certain!!
Drop me a mail...... smile

55palfers

5,671 posts

149 months

Wednesday 10th December 2014
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Du1point8 said:
Which is weird as my friend had no issues on his new build that has a long walkway that gains access to all flats on that level.
What, you mean just like a street of terraced houses a la Corrie for example?

Du1point8

21,495 posts

177 months

Wednesday 10th December 2014
quotequote all
55palfers said:
Du1point8 said:
Which is weird as my friend had no issues on his new build that has a long walkway that gains access to all flats on that level.
What, you mean just like a street of terraced houses a la Corrie for example?
suppose the only differences I can think of is the fire risk and burglary, if a flat 2 doors up from my friends goes up in flames, he can't escape as he has to go past it to get out, if someone robs him when out its not like anyone will go and check it as he's the end flat.

Flat 2 doors up from me goes up, I walk out front door onto the street.

If someone tries to rob my property, lots of people will see it when they walk past.

Animal

Original Poster:

5,079 posts

253 months

Wednesday 10th December 2014
quotequote all
Du1point8 said:
suppose the only differences I can think of is the fire risk and burglary, if a flat 2 doors up from my friends goes up in flames, he can't escape as he has to go past it to get out, if someone robs him when out its not like anyone will go and check it as he's the end flat.

Flat 2 doors up from me goes up, I walk out front door onto the street.

If someone tries to rob my property, lots of people will see it when they walk past.
I think that's it, but not sure how it applies to a ground floor flat where I can escape the fire by just walking onto the street the same as I would from a house! Not sure why a burglary risk would concern a mortgage lender unless they think that someone would repeatedly rob the flat to the extent that the area developed a newsworthy crime problem!!

Sarnie

7,517 posts

194 months

Wednesday 10th December 2014
quotequote all
The main reason is that open deck access is in a lot of cases, indicative of ex-local authority properties, which a lot of lenders have an issue with............

vescaegg

25,051 posts

152 months

Wednesday 10th December 2014
quotequote all
Sarnie said:
The main reason is that open deck access is in a lot of cases, indicative of ex-local authority properties, which a lot of lenders have an issue with............
yes where I grew up...

st hole.


Animal

Original Poster:

5,079 posts

253 months

Wednesday 10th December 2014
quotequote all
Thanks - the problem is that most reasonably-priced (I use the term very, very loosely) flats in London of any quality seem to be ex-local.

Sarnie

7,517 posts

194 months

Wednesday 10th December 2014
quotequote all
Animal said:
Thanks - the problem is that most reasonably-priced (I use the term very, very loosely) flats in London of any quality seem to be ex-local.
You just need to be using the right lender(s).....