Buying a Home
Remortgaging
Landlord
Specialist
Secured Loans
Debt Consolidation
Conveyancing
Finding a Solicitor
Mortgages
Getting a mortgage on a flat above five or six storeys is possible, but building height, fire safety compliance, and lease length all affect which lenders will consider your application.
Yes, most high-rise flats are mortgageable, but once a building reaches six or more storeys you'll typically need a specialist lender rather than a mainstream high-street bank.
Some mainstream lenders cap their lending at four to five storeys, particularly outside major cities, while high-rises in London are often easier to mortgage because of stronger demand. A broker who understands which lenders accept high-rise properties can help you avoid wasted applications and unnecessary credit searches.
A high rise flat mortgage isn't the same as a standard house purchase. Lenders assess a set of building-specific factors that don't apply to freehold houses, and automated lending systems often flag taller blocks for manual underwriting or decline them outright.
Lease length sits at the top of their concerns. Most flats are leasehold, meaning you own the property for a fixed period rather than outright. As the lease gets shorter, the flat becomes harder to resell, which makes lenders more cautious about their security.
Building height and construction matter too. A ground-floor flat in a three-storey conversion is treated very differently to an eighth-floor flat in a concrete tower block, and each requires a different risk assessment from underwriters.
Fire safety compliance has become a central concern since the Grenfell Tower tragedy. Buildings over 11 metres may need an EWS1 certificate confirming their external walls meet safety standards, and without proper documentation some lenders won't proceed regardless of your personal finances.
Service charges and ground rent affect affordability calculations. High ongoing costs can reduce how much you're allowed to borrow, since lenders factor these in alongside your mortgage payments during their stress tests.
A flat above commercial premises, in a building with deck access, or with a lease under 80 years might get rejected by several high-street lenders and still be approved by a specialist one. The challenge is knowing which lender to approach without wasting time on applications that won't succeed. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
Applying to the wrong lender first doesn't just waste time, it can leave a mark on your credit file. Getting a read on lender appetite for your specific building before you apply protects your credit score and speeds up the whole process.
There's no single legal definition, but for mortgage purposes a high-rise flat is generally one in a building of six or more storeys, or over 18 metres in height. Some lenders draw the line lower, treating anything above four or five storeys as needing extra scrutiny, particularly outside major cities.
Flats located above the seventh floor can face restricted mortgage options, and some mainstream lenders cap their lending at four to five storeys altogether. The concerns relate to maintenance costs (lifts, communal areas, potential cladding works), resaleability, and the complexity of managing a multi-unit building.
Location plays a role too. High-rises in London are generally easier to mortgage than those in regional locations, thanks to stronger demand. Resale value can also be affected by the concentration of similar properties in the surrounding area, which lenders take into account when assessing an application.
Blocks designed as flats from the outset, with long leases (125 years or more) and reasonable service charges, present the fewest problems for most lenders. Modern developments are often more energy efficient too, which can help with running costs.
Older high-rise buildings, particularly those with non-standard construction, face more scrutiny. Buildings with 6+ storeys attract additional checks, and some lenders will refuse to finance them altogether regardless of the applicant's financial position.
Fire safety
The Grenfell Tower tragedy in 2017 fundamentally changed how lenders view multi-storey buildings, and fire safety documentation is now one of the biggest factors in whether a high-rise flat can be mortgaged.
The External Wall System form (EWS1) is completed by a qualified fire safety professional. It rates a building from A1 (no combustible materials, no concerns) to B2 (combustible materials present that need remediation).
Following industry agreements from January 2023 onwards, most major lenders will now consider properties in affected buildings provided there's evidence of one of the following:
This has significantly improved the situation compared with 2020-2022, when many affected flats were effectively unmortgageable. You'll still need proper documentation and potentially specialist legal advice before proceeding.
Check the fire safety status early by asking the estate agent or seller about EWS1 documentation and any planned or ongoing remediation before you commit to surveys and searches. Instruct a conveyancer experienced in Building Safety Act implications, since standard conveyancing firms may not have the expertise. Expect the additional checks to add to your legal costs and to extend your overall timeline, so build extra time into your expectations.
Ask for EWS1 documentation before you pay for a survey. Finding out a building needs remediation evidence after you've already spent money on searches is a common and avoidable frustration.
The remaining term on your lease affects not just whether you can get a mortgage, but the property's value, your costs, and your ability to sell in future. Most lenders require at least 70 years remaining on the lease at the point of application, and enough years left at the end of your mortgage term too, not just at the start.
If you're taking a 25-year mortgage and the lender requires 50 years remaining at maturity, you'll need at least 75 years on the lease when you apply.
Lease extension costs increase significantly once a lease drops below 80 years, because of "marriage value", the increase in property value that results from extending the lease. For leases under 80 years, the freeholder is entitled to a share of this marriage value, making extensions considerably more expensive. Property experts recommend extending well before you hit this threshold.
Since January 2025, buyers can start the lease extension process immediately upon purchase, removing the previous requirement to own the property for two years first. Ground rent on new lease extensions is now capped at a peppercorn (effectively zero), preventing the escalating ground rent clauses that caused problems in the past. These reforms help, but they don't eliminate the cost of extending a short lease, so always factor extension costs into your purchase budget.
You generally have three options: negotiate a lease extension before completion, price the likely extension cost into your offer and find a lender willing to proceed on the current lease length, or use bridging finance to complete the purchase before extending and refinancing onto a standard mortgage.
Check the lease length against your mortgage term, not just today's figure. A 90-year lease looks safe now, but if you're remortgaging every five years it can creep towards a lender's minimum threshold faster than you'd expect.
Short lease options
Leasehold ownership means you own the flat for a fixed term, but not the land it sits on, which remains owned by the freeholder. This usually involves paying ground rent and service charges, and there may be restrictions or additional costs set out in the lease.
Ground rent is the annual payment to the freeholder for the land your flat sits on. On older leases this might be nominal, but some leases from 2000-2017 contain escalating ground rent clauses that can make a property virtually unmortgageable, including doubling clauses (ground rent doubles every 10-25 years), RPI-linked increases that compound over time, and ground rent exceeding £1,000 in London or £250 elsewhere, which triggers additional regulatory implications.
The Leasehold Reform Act has capped ground rent on new lease extensions to a peppercorn, and many developers have voluntarily removed problematic doubling clauses from leases they originally granted.
Service charges cover building maintenance, insurance, management, and potentially a sinking fund for future major works. In a high-rise block with lifts and extensive communal areas, charges are typically higher than in a smaller building. Lenders factor service charges into affordability calculations in the same way they treat existing debt repayments, so a higher monthly charge directly reduces your borrowing capacity.
Before buying, check the current service charge level, three years of accounts showing historical charges, any planned major works and expected costs, the sinking fund balance, and whether the building is managed by residents or a professional management company.
If major works costing over £250 per leaseholder are planned, the freeholder must issue a Section 20 notice giving you the right to comment and potentially propose alternative contractors. Upcoming major works can affect your mortgage application, since lenders may ask about planned expenditure and factor expected costs into affordability. In extreme cases, a lender may decline to proceed until the works are complete and costs are confirmed.
If rising service charges or ground rent are putting pressure on your finances, free and impartial guidance is available from MoneyHelper on 0800 138 7777.
Ask for a healthy sinking fund balance, not just a low current service charge. A block with no reserves can hit leaseholders with a large one-off bill the moment major works are needed.
Council-built high-rise flats bought under Right to Buy or on the open market can offer excellent value. Many are spacious, built to Parker Morris standards, and in established communities with good transport links. But lenders approach them cautiously.
Building height: many lenders restrict lending on ex-local authority blocks over five or six storeys. The combination of height, construction type, and ownership mix raises concerns.
Construction type: pre-cast reinforced concrete (PRC) construction, common in post-war council building, requires specialist assessment. Some PRC types have received certificates of structural completeness after repairs, making them mortgageable, while others remain problematic.
Deck access: external walkways providing access to flat front doors are seen as a security risk by many lenders. Combined with ex-local authority status, deck access significantly limits your options.
Owner occupation levels: some lenders require 50% or more of flats in the block to be owner-occupied rather than rented. In estates where the council retains many properties, this threshold may not be met.
Specialist lenders and building societies often take a more nuanced view than mainstream banks. They may assess each property individually rather than applying blanket rules, accept lower owner-occupation percentages, consider blocks of six to ten storeys in appropriate locations, and take a flexible view on deck access if other factors are positive.
Expect to need a larger deposit, since many lenders cap loan-to-value at 85% rather than 95% for ex-local authority flats. A good credit history matters more too, given the limited lender options, along with clear documentation on the building's construction type, management arrangements, and owner-occupation levels. Applications may also take longer because of additional valuation queries, so build patience into your timeline.
Buying a high-rise flat in a new development offers modern fixtures, a warranty, and no onward chain, but mortgage rules for new builds differ from those for resale properties.
Most lenders cap new-build flat mortgages at 85% loan-to-value, requiring at least a 15% deposit rather than the 5-10% sometimes available on older properties. New-build values can drop once initial demand settles, developer incentives may inflate headline prices, and lenders want protection against this. Some exceptions exist, including first-time buyer schemes and developer partnerships with specific lenders, but these are the exception rather than the rule.
New-build leases should be granted for long terms, typically 125 years minimum, with 250-999 years becoming standard on quality developments. Be wary of new builds with surprisingly short leases or unusual ground rent arrangements, and always check lease terms carefully before committing.
Developers sometimes offer incentives to attract buyers, such as cashback, furniture packages, or a contribution to stamp duty or legal fees. Lenders require disclosure of all incentives and may reduce the value they're willing to lend against as a result. A flat listed at £250,000 with a £12,500 furniture package, for example, may be valued at £237,500 for mortgage purposes, which affects your loan-to-value calculation.
Lenders require new builds to have warranty protection from an approved provider, such as NHBC, Premier Guarantee, or LABC Warranty. This protects against structural defects for 10 years. Before exchange, confirm the warranty is in place and which provider covers the development.
Applying for a high-rise flat mortgage follows the same basic process as any mortgage, but with additional steps for building-specific matters. Lenders will consider the saleability of the property as a key factor in whether to approve your application, alongside your personal finances.
Get your documents ready, including three months' payslips, bank statements, a P60, ID, and proof of address. Self-employed applicants typically need two to three years of accounts or tax returns. Gather details on your flat too, including lease length, service charges, ground rent, building height, construction type, and any known issues like planned major works. Review your credit report for errors and address any issues before applying.
Complex lease terms, unusual ground rent arrangements, or questions about forfeiture clauses can delay legal work. Obtaining a management pack from managing agents about service charges, ground rent, and building matters can take several weeks, and buildings requiring EWS1 forms may face delays in obtaining or verifying documentation. If a valuer flags concerns, resolving them can add days or weeks to the timeline. Budget four to six weeks longer for a leasehold high-rise flat purchase than you might for a straightforward freehold house.
How it works
Agreement in principle
A soft credit check confirms roughly what you can borrow. This doesn't commit you but shows sellers you're a serious buyer.
Full application
Once your offer is accepted, you submit a complete application with all documentation and the lender orders a valuation.
Valuation
For high-rise flats, valuers check building-specific factors like lease length, service charges, and construction, alongside the flat itself.
Additional queries
High-rise valuations more commonly generate questions than house valuations. You might need to provide EWS1 forms, lease details, or management accounts.
Mortgage offer
Once satisfied, the lender issues a formal mortgage offer, typically valid for three to six months.
Completion
Your solicitor completes legal checks on the leasehold title, and you exchange and complete as with any property purchase.
If you already own a high-rise flat and your fixed rate is ending, the remortgage process is broadly similar to a purchase, but with some building-specific considerations to work through.
A lease that was long enough when you bought may have crossed a lender's threshold by the time you come to remortgage. If you purchased with 85 years remaining on a 5-year fix, you now have 80 years, which is below some lenders' minimums. Consider extending your lease before or alongside remortgaging, or look for a lender with more flexible criteria for your current lease length.
If your building has been identified as having fire safety issues since you bought, remortgaging may be more complicated. You'll need current EWS1 documentation and evidence of how any required remediation is being funded. Building Safety Act protections may help here, since qualifying leaseholders shouldn't bear remediation costs, which can enable lenders to proceed.
Rising service charges affect affordability. If your charges have increased significantly since purchase, your borrowing capacity for the remortgage may be lower than you expect.
If finding a new lender proves difficult because of lease length, building issues, or changed circumstances, a product transfer with your existing lender may be the simplest option. You'll get a new rate without full underwriting or a new valuation, which saves time and avoids the additional paperwork of a fresh application.
Common questions
Yes, most high-rise flats are mortgageable. The key factors are lease length (aim for at least 70 years remaining), building height and construction, fire safety compliance, and ongoing costs like service charges. A range of lenders consider non-standard properties, though which ones suit your specific flat depends on its characteristics.
Not necessarily. Standard high-rise flats can attract similar rates to houses. You're more likely to face less competitive pricing if your specific flat, because of its construction, lease length, or other factors, limits you to a small pool of specialist lenders.
Most lenders require 70-85 years remaining at application, with enough years left at the end of your mortgage term too, typically 30-50 years at maturity. Some lenders are more flexible than others, so it's worth checking individual criteria if your lease is on the shorter side.
Yes, a number of lenders offer mortgages on ex-local authority flats, but restrictions apply to high-rise blocks, typically above five or six storeys, properties with deck access, those built from certain concrete types, and blocks with low owner-occupation. Expect to need a larger deposit and potentially fewer lender options.
An EWS1 (External Wall System) form is a fire safety certificate for buildings over 11 metres, confirming whether external wall materials are compliant. You'll likely need one if buying or remortgaging a flat in an affected building. Buildings rated A1, A2, or B1 are generally straightforward to mortgage, while those rated A3 or B2 need evidence of funded remediation.
Typically four to eight weeks from full application to offer, though complex cases can take longer. Add extra time for leasehold-specific legal work. Overall, it's sensible to budget three to four months from offer acceptance to completion for a high-rise flat, compared with two to three months for a straightforward house.
Yes, lenders include service charges in their affordability calculations. High charges reduce your maximum borrowing capacity, so a flat with higher monthly service charges may allow you to borrow less than an identical flat with lower charges.
For standard resale flats with good lease terms, a 95% mortgage may be available, though options narrow for taller buildings. For new-build flats, most lenders cap borrowing at 85% loan-to-value (a 15% deposit minimum). For ex-local authority or other non-standard flats, you may need a 15-25% deposit to access available lenders.
Since January 2023, most major lenders will consider flats in buildings with cladding issues if there's evidence of qualifying lease protections under the Building Safety Act, developer-funded remediation, or coverage by a government scheme. Without this evidence, arranging a mortgage may be difficult until the situation is resolved.
Speaking to an advisor who understands high-rise lending criteria can save significant time, especially for non-standard buildings. An advisor can identify which lenders are likely to accept your specific flat before you apply, helping you avoid wasted applications and unnecessary marks on your credit file.
Yes, and since January 2025 you can start the extension process immediately, without waiting two years as previously required. The cost depends on the remaining lease length, the flat's value, and the current ground rent terms. Extensions reduce ground rent to a peppercorn (effectively zero) for the new term.
With standard leasehold, you own the flat but not the building or land it sits on. With share of freehold, you own a portion of the freehold company that owns the building. Share of freehold often provides more control and can make lease extensions easier, though it comes with shared management responsibilities.
What our clients say
Shortly after I spoke with Anna, she was also very helpful and made it effortless and a nice experience.
Had a really good experience regarding arranging a secured loan. They introduced me to a great advisor. Thanks for the help.
For once a loan transaction without stress and complications. Very impressed and highly recommended.
Thrilled to share my exceptional experience with Money Saving Advisors. The website made it incredibly simple and easy to connect with an advisor. They helped me find the best deal on my remortgage and secured a very competitive interest rate!
Great advice and money saved on mortgage.
I have previously declined a loan of the value I needed from various brokers, but this website found me a reputable broker with surprisingly decent rates.
Mortgages
Compare mortgage rates from a wide range of lenders. Our expert advisors are here to help you find the right deal.
