How does contamination affect my ability to borrow?
Fri, 26 Oct 2007
You may still be able to arrange a commercial mortgage or bridging loan but a specialist survey will be needed.
If the property suffers from contamination issues such as the use of asbestos in its construction or potential environmental contamination, for example by chemicals or oils, then it may still be possible to borrow against it. The lender will however require a specialist report into the issue which will need to be paid for and tends to add to the time required to complete a transaction.
If this is likely to be an issue please contact us to discuss the circumstances.
