Non-Standard Construction Home Purchase in Yorkshire
£162,000 · 7 months · 0.89% pm. A buyer had agreed to purchase a timber-framed 1960s property in West Yorkshire at below-market value.
The Client
Buyer
The Challenge
A buyer had agreed to purchase a timber-framed 1960s property in West Yorkshire at below-market value. High street lenders and most specialist mortgage lenders declined due to the construction type, leaving the purchase about to fall through.
Our Solution
Doulton's underwriters assessed the true open market value and agreed a £162,000 bridge secured on the property. The client used the time to commission a specialist survey and negotiate a mainstream mortgage from a lender comfortable with the construction.
The Outcome
Property purchased below market. Mainstream mortgage arranged during the bridge term. Net saving to the client after all bridging costs exceeded £28,000 versus the next available comparable property. Key highlights: Non-standard construction accepted; Below-market purchase price recognised in valuation; Client saved materially versus alternative purchase.