What Is the Minimum Size for a Flat to Get a Mortgage?

Answered on 20 March 2024 by


What is the minimum square footage needed for a mortgage? I own a small studio flat which I am considering selling. However, several estate agents have told me that it won’t sell as it’s too small to get a mortgage on. Is there a current minimum flat size or square footage requirement for a mortgage in the UK?


Nick Mendes

Minimum Square Footage of a Flat for a Mortgage

The minimum size for a flat to get a mortgage is typically 30 square metres. There are a few lenders that will consider lending on flats smaller than this but options will be limited.

Bear in mind that this is just a guideline as the minimum size requirement for a flat to qualify for a mortgage can vary depending on the lender. Generally, lenders may have their own criteria on what they deem as adequate security for approving mortgages, and these criteria may include minimum size requirements for the property.

In many cases, lenders are concerned with the marketability and resale value of the property. If a flat is too small, it may be perceived as less desirable or have a limited pool of potential buyers in the future. For example, if a lender did grant a mortgage then had to repossess, a future potential buyer could struggle to secure lending and then the lender would struggle to sell the property and get its money back. If your local estate agents are telling you that it won't sell then this is also likely to put lenders off.

Selling a Studio Flat Mortgage-Free

Although it can be more difficult to secure mortgages for flats that are smaller - which can make them harder to sell - not all buyers will require a mortgage. They may have cash in the bank or they may be raising it on their main residence. In this instance you just need to find the right buyer for your property. If the local estate agents can't do this then look towards one of the larger up market firms, who may have clients on their books looking for a studio flat in the right part of London at the right price.

The Minimum Size Flat for a Mortgage Ultimately Depends on the Lender

It's essential to check with the lender to understand their specific criteria regarding the size of the property eligible for a mortgage. Additionally, local housing regulations and guidelines may influence the minimum size requirements for residential properties.

Keep in mind that other factors, such as the location, condition, and overall market conditions, also play a crucial role in mortgage approval. For more information on apartment mortgages see our guide.

Using an experienced mortgage broker like John Charcol will understand potential lenders and will be able to provide more accurate and up-to-date information based on your specific situation and location to secure you the best deal.

Ask The Mortgage Experts answers are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them. We recommend you seek professional advice with regard to any of these topics where appropriate.

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