Lets test the knowledge of this forum

hostage_2

Hi all,

Some good tests for all you readers with this one. I am currently selling my house and buying a repossessed one. The difference between the selling and purchasing is very small some 13k however the difference in house is huge, the repossessed house is around £80k cheaper that a comparable house. The following are issues .....

1) Repossessed house has an unfinished extension, structure all built but internal not finished (half electrics done, half plastered etc). Planning permission was given in 2006, I have obtained the plans for the extension and very slight differences, ie one of the rear patio doors is now a window, three velux windows not on the plan. Building regs were inspected including excavation, foundation and damp proofing but nothing more. Have spoke with building control who are not bothered by all this and just advised getting a surveyor to look at it. Anybody been in this position and what did you do?

2) I have a mortgage in two parts, two variable rate mortgages with the same company for my current house, will be porting these and borrowing only a marginal bit more on fixed. Will my solicitor charge me 2x mortgage fee for sale and 3x fee for purchase mortgage fee?

3) I am only going to request searches for my purchase as requested by the mortgage lender ...... any thoughts?

4) No need for the Chancel policy ....... comments?

5) When would the searches done by the repossession company as part of the hips not suffice for the mortgage company? What searches do most mortgage companies request?

6) Will the mortgage company be interested in the planning and building regs issue?

Look forward to any replies!!!!!!

Cheers

silvercar

1. building control are not interested in planning and vice versa. The changes wouldn't bother me, even if technically they do not comply with the PP granted. Some people may be bothered, but in my mind a window is less obtrusive than a door and velux windows could be added at a later date without need for PP so the fact they were added at the same time isn't that relevent and could be lost in the history of the house in a few years.

2. Shouldn't make a difference if they are all with the same lender as it should be one charge on the properties.

3. If you know the area.

4. Seek solicitors advice but again if you know the area you can assess the risk.

5. If they are out of date.

6. They will say that your solicitor should check that PP and building certificates have been obtained. Without them they may only be prepared to lend on the completed part of the house. Only really a worry if your LTV is near the lenders limit.

hostage_2

Silvercar thanks for your comments, appears you think the same way about me. Appreciate your comments about the mortgage transfer fees and the LTV re mortgage poss lending on the old part of the house. Thankfully I am getting it at such a bargain I hope there will be no problems.

Thanks again,

Hostage

planning_officer

silvercar wrote: »

The changes wouldn't bother me, even if technically they do not comply with the PP granted. Some people may be bothered, but in my mind a window is less obtrusive than a door and velux windows could be added at a later date without need for PP so the fact they were added at the same time isn't that relevent and could be lost in the history of the house in a few years.

The velux windows could probably be added without planning permission at a later date, unless a restrictive condition on the planning permission restricts the insertion of any further windows. If that is the case, then the whole extension as built does not benefit from any planning permission, but like silvercar says, I wouldn't worry about it as the chances are they would not require PP anyway. If you want to formalise it all, then just submit revised plans seeking a minor amendment to the existing permission.

hostage_2

Cheers for the advice, all offers accepted now and got a further 2.5k of it. Viewed it last night with a QS who pointed me in the right direction, lots of work to be done. Thanks for the replies and keep them coming

Hostage