Properties Close to Power Lines: What I Need to Know
For the safety of the public, the Australian government must designate properties with certain statuses. Homebuyers must become aware of the pros and cons of every property they might purchase. For example, properties close to power lines pose some risks. Their proximity to the power lines determines the total risk.
When power lines sit above the property, they can fall onto the home and cause damage. Some researchers believe that proximity to power lines can lead to the development of some cancers such as leukemia.
Lenders aim to finance properties that pose no risk to the homeowner. As it is, Australians live in their homes for an average of 10 years. The norm stood at 30 years for several decades. Lenders prefer to issue home loans to homebuyers who plan to live on the same property for the rest of their lives.
Mortgage House is a non-bank lender. We remain an innovator in the industry and can issue home loans for properties that sit near power lines. Our loan specialists take several details into account before reaching a decision. If the risk posed by the lines is not great, it makes obtaining a high tension power line mortgage more likely. To find out, start the application process with our team. Plus, take a look at our Mortgage House online mortgage calculator for free.
Properties Close to Power Lines Conclusion
If you have an interest in acquiring properties close to power lines, Mortgage House can take a look at the details. Some properties receive this status but the risk is benign. To find out, contact our loan specialists today.