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

Answered on 18 February 2022 by

I own a small studio flat which I am considering selling. However, several estate agents have advised me that it won't sell as it’s too small to get a mortgage on as mortgage providers have toughened up lending rules. Is there a current minimum studio flat size for a mortgage & are there any lenders that will provide mortgages for smaller studio flats?

Nick Mendes

The minimum size for a flat to get a mortgage is typically 30 sq metres. There are a few lenders who do not state the minimum size for a studio flat because their suitability as a security depends not on their size and location, but how easy they will be to sell if the lender has to take possession. 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

However, 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.

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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