How does the lack of services evident affect my ability to borrow money?

Understanding the Impact: How the Lack of Services Evident Can Affect Your Ability to Borrow Money

When it comes to borrowing money for a mortgage, one of the most important factors that lenders take into consideration is the property’s “services evident”. This refers to the availability of essential services such as electricity, water, and sewage to the property. A lack of services evident can greatly affect an individual’s ability to borrow money for a mortgage.

The reason for this is simple: a property without access to essential services is considered being less valuable and less desirable to lenders. Without these services, the property may be considered being a higher risk investment, making it less likely that a lender will approve a mortgage loan. This can make it difficult for individuals to secure the financing they need to purchase their dream home.

However, it’s important to note that this doesn’t mean that it’s impossible to secure a mortgage loan if your property lacks services evident. At Mortgage Street, we understand the unique challenges that can come with these types of properties and we have Tolerant products that can assist with no services evident. These products are designed to help individuals who may struggle to get approved for a traditional mortgage loan because of a lack of services evident.

If you’re in the market for a mortgage and your property lacks services evident, don’t let that discourage you from pursuing your dream of homeownership. Contact a Mortgage Street accredited mortgage broker today to learn more about our Tolerant products and how we can help you secure the financing you need. With our help, you can take the first step towards owning your own home, despite the lack of services evident.