Sunday, October 24, 2010
Slumlord outraged after his BTL hovel is deemed “not habitable” by surveyors
Paul Rooney, 42, bought the two-bedroom Victorian end-of-terrace for Â£86,000 in early 2007. But the businessman [err, you mean landlord] was stunned when he applied for a mortgage on the property with Nationwide and valuation officers who visited the house gave it a meager Â£1 price tag. A valuer working for Nationwide produced a report on September 21 which stated that the house was 'not habitable'. It said that there were 'excessive moisture readings' in the ground-floor walls and that wood touching them could be 'affected by rot'. The document also sought a further engineer's report on the stability of the roof. But Mr Rooney - who had already put tenants paying Â£550 a month in the house - fears that he may have to sell more properties for low prices if banks refuse to lend.