What absolute nonsense. If that was fishing it worked. I was specifically looking at properties that required renovation for the very reasons you specified. (Have you seen the way half the hooses oot there are decorated?) I'm more than willing to do any work that I can and roughing it isn't a problem (you should see my current abode). But I'd require finance to carry out major work because as willing as I am to put in a shift I wouldn't be able to install a kitchen or bathroom for example. I'm not saying it's rocket science but it's something that you'd need experience to do well. I'd want/need work done to a professional standard which requires money. If I can't get that money then I can't renovate? Simple.
This was advice given to me by a mortgage advisor. Hence "apparently". I did find it strange because I thought it was a good idea especially for a first time buyer. You buy the house cheap because it needs work, do the work on as tight a budget as you can and when finished the house is potentially worth more than what you've spent on it. I know it wont work out like that on every property but these are the lines that I was thinking along.
It irks me that people think I want a free ride. If my parents taught me anything over the years it's the value of money and the hard work required to earn it. Hence I've been in employment constantly since I was 16 and I'm sure many of you are the same. I feel I've had a good attitude throughout my so far short but fast paced house-hunt, being realistic with figures and obviously having done my homework on mortgages to the apparent surprise of the mortgage advisers that I've spoken to. I don't think I need to be spoken down to from a higher rung of the property ladder by any of you older folk!