Myth Busted: The Hub is Mortgageable

At Richardsons, we’ve always enjoyed challenging the “common knowledge” of the property world.  After all, the market is constantly evolving, and what might have been true five or ten years ago doesn’t always hold up today.  One of the most persistent myths we hear from homeowners is this:

“Properties in The Hub aren’t mortgageable.”

It’s been said for years.  Repeated so often, in fact, that many sellers have come to accept it as fact.  Some have even been put off selling altogether, believing their buyer pool would be limited to cash purchasers only.  But today, we’re very pleased to say: that myth has officially been busted.

Where did the myth come from?

The belief that properties in The Hub aren’t suitable security for mortgage lenders usually centres around size.  Traditionally, lenders have applied minimum square footage requirements, particularly for apartments, and for a long time this did restrict lending options on some smaller properties.

As a result, word spread.  The Hub became labelled as “unmortgageable”, and that reputation stuck.  Over time, the myth took on a life of its own, often repeated without question, even as lending criteria, buyer demand, and valuation practices changed.

Unfortunately, once a property or development is branded in this way, it can influence asking prices, marketing strategies, and even seller confidence.

The reality of today’s lending market

Mortgage lending is not static.  Criteria changes regularly, and lenders continually reassess risk based on real-world data, demand, and resale performance.

In recent years, we’ve seen increasing flexibility from lenders, particularly where:

• Properties are well-maintained

• Demand from buyers is strong

• Comparable sales support values

• The property is marketed and priced correctly

And this brings us to the reason for writing this article.

Proof, not promises

We currently have a property under offer in The Hub which has just received a full mortgage offer following valuation.

That’s right:

• A buyer applied for a mortgage

• The lender instructed a valuation

• The valuer inspected the property

• And the lender was happy to proceed

This wasn’t a theoretical discussion, a “maybe”, or a niche lender workaround.  This was a straightforward mortgage offer, post-valuation, on a Hub property.

In one fell swoop, years of assumption were quietly undone.

So why does the myth still persist?

In our experience, myths like this tend to linger for a few key reasons:

1. Outdated information
   Some advice being passed around by Estate Agents today is based on lending criteria from years ago.

2. Poor positioning
   If a property has previously struggled to sell, it’s often blamed on mortgageability, when pricing, presentation, or marketing may have been the real issue.

3. Lack of specialist knowledge
   Not all Estate Agents understand how lenders currently view developments like The Hub, or how to present them correctly to attract the widest audience.

4. Assumptions snowball
   Once one person says “it’s not mortgageable”, it gets repeated until it feels like fact.

The truth is far more nuanced.

Mortgageable doesn’t mean “one size fits all”

It’s important to be clear: not every buyer, with every lender, in every circumstance will be approved.  That’s true of any property, anywhere.

Mortgageability depends on:

• The buyer’s financial position

• The lender’s criteria at that time

• The property’s condition and specification

• The valuation outcome

But what our recent sale proves is this: The Hub is not automatically excluded by lenders.  The door is open, and that significantly widens the pool of potential buyers.

For sellers, that matters.

Why this is good news for vendors

If you own a property in The Hub, this shift in perception can have a real impact:

• More buyers – Not just cash purchasers

• Stronger demand – Which supports pricing

• Improved confidence – For both sellers and buyers

• Smoother transactions – When expectations are managed correctly

When properties are marketed with clarity, confidence, and up-to-date knowledge, buyers respond.

Positioning is everything

One thing we’ve learned time and again is that properties don’t struggle - positioning does.

The right pricing strategy, accurate guidance around lending, strong presentation, and proactive communication with buyers can completely change the outcome.

We’ve seen properties sit on the market for months under one approach, only to attract serious, proceedable buyers when repositioned correctly.

That’s not luck.  It’s experience.

Thinking of selling in The Hub?

If you’ve been considering selling but held back because you believed your property wasn’t mortgageable, it may be time to revisit that assumption.

And if you’ve previously tried to sell and didn’t get the result you wanted, it’s worth asking whether the issue was truly the property - or simply how it was brought to market.

At Richardsons, we like busting myths, but more importantly, we like delivering results.

If you’re struggling to sell a property in The Hub, or if you’d just like an honest, up-to-date conversation about how your home would perform in today’s market, get in touch.  A fresh perspective could make all the difference.