BSL Financial Services

Where To Find Us


Contact Number


We’re Here To Help You


We can’t get a mortgage to help us buy a listed property. Should we find another way?

The seller failed to get conversion warranty but bought retrospective one, while broker suggested secured loan to us

Q My husband and I have recently sold our first home in the south-east and now have £300,000 in our bank account. We would like to buy a beautiful property farther north for the agreed price of £380,000. It is a three-bedroom flat that is over two floors in the top half of a Georgian house (it includes an attic conversion) with its own private entrance. However, there are complications: first, it is Grade I-listed; second, it seems the seller, who converted it from one single non-domestic building to three separate properties (there is a flat and a proposed cafe downstairs), failed to get a conversion warranty (he didn’t know this was required).

The first bank we approached (for an £80,000 mortgage) said the property was not mortgageable because of the lack of the conversion warranty (apparently the fact that the seller bought the property more than 10 years ago and has been converting it without living in it means that the warranty is required). The seller then bought a retrospective warranty, and we approached a mortgage broker. However, the mortgage broker has been unable to find a lender who will consider the property mortgageable: some lenders are happy with a Grade I-listed property, some are happy with a retrospective warranty but none, it seems, are happy with both.

This article was amended on 5 June 2023 to remove some personal information.

Continue reading…

Articles on BSL Financials

Please note that all views in posts that are not from the BSL Editorial Team are not opinions of the company and do not represent us in any form. All Non-Editorial articles are intended to be purely informational and should not be treated as fact.

Recent Posts

Follow Us

Sign up for our Newsletter

Sign up and we’ll keep you updated with tips and tricks to keep you financially savvy.