Mortgage on ex-LA going at auction?Make Text Bigger
I’m looking to buy an ex-local authority flat on the first floor of a 10-storey block in Hackney. The building has several lifts and, in general, is in good condition. There is no deck access – the corridor where you enter the flat is closed to the elements. But only 16% of the flats in the building are privately owned.
The flat is going to auction and I wondered whether I should risk it?
I’ve already been approved for a mortgage, but the broker says it will be up to the valuer’s comments. Obviously I don’t want to purchase it if I can’t resell it – I’m planning to live there, but only for about 2-3 years.
Thanks for any advice you can offer.
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