Mortgaging a listed building
Getting a mortgage on a listed building
Getting a mortgage for a listed building can be very difficult, with lenders usually seeing them as too big of a risk. Oracle’s independent mortgage brokers can help you secure a mortgage on a listed building, but first, read our guide below about mortgages and listed buildings.
Grade 1 Vs. Grade 2
Listed buildings have restrictions placed on them in regards to how much you can change or renovate them, often because of historical and beauty factors. Grade 1 has the highest restrictions, so it is almost impossible to secure a mortgage, whereas Grade 2 buildings have more flexibility, and so are slightly easier to secure mortgages on.
Getting insurance on a listed building
The insurer will also be more fussy with the quality of a listed building, maybe even checking any renovations are sound before providing insurance cover.
Getting mortgages on unusual listed buildings
The ease with which you can find a mortgage for a listed building also depends on what type of building it is. For example, mortgages are relatively easy to secure on converted barns, but a lighthouse will be considerably more difficult.
Is a self-build mortgage the way to go?
Self-build mortgages are designed for people who want to build their own home, but can also be available for renovations (renovating a listed building, for example). However, self-build mortgages are considerably more expensive than other types of mortgages.
Finding a mortgage for a listed building with an independent mortgage broker
Oracle’s independent mortgage brokers have all the experience, knowledge, and contacts across the mortgage market to be able to make it a lot easier for you to find a lender that will provide a mortgage for a listed building.
Get in touch now to be introduced to one of our independent mortgage brokers.
Your home may be repossessed if you do not keep up repayments on your mortgage.