Incomplete building regs on new build

wadaw

Hi,

I am interested in purchasing a 4 bed house in which the builder went bust in the final stages of finishing the build - major works are complete, just silly things needs doing (finishing off around windows / doors, minor carpentry etc) - the house has all bathroom/kitchen fixtures in place (excluding minor detailing).

The problem is final building control approval has not yet been granted - I am not clear if it would be possible obtain a mortgage against such a property ? asking price is approx 55K below current market value and it would take approx 10-15K to complete the outstanding items.

Any advice appreciated.

FilthyLuka

Not sure about the mortgage situation - but also check out the nhbc/warranty implications, will it still be transferable if someone else finishes the work?

I would make enquires with the building control section to confirm if they have inspected recently and what the outstanding works are on their records. There may be more significant/costly works than it appears on the surface.

I would ask question like - boiler and electrical certificates are normally needed - have these works been certified? are the installers still around/willing to certify - they may have been stung when the builder went bust. An air leakage test is commonly required for new properties, if that does not pass then there can be costly remedial works

Doozergirl

It won't be mortgageable without the completion certificate and a 10 year warranty. It needs to be a cash purchase as it stands.