Mortgage offer/survey results

nippy26

Survey was completed a few weeks ago and my husband received a call to say all was fine. Received mortgage offer today, with a copy of the survey with potential problems. In the section entitled 'works to be carried out as condition of mortgage subject to retention below' we have the following:

1. Provide plasterboard facing to exposed timber frame work/fire break walls in the loft. 1 hr fire resistance required.

2. Obtain a timber and damp specialist report and carry out works advised. Areas of high famp readings and restricted air brick ventilation creating a risk of possible concealed decay.


Can I assume I have to obtain quotes for the above before exchanging contracts etc?? Next steps? - help please..

BobProperty

It depends how the lender works it. They are going to "retain" i.e. hold back the value of the work. They may go off the surveyors figure, if they have provided one or they may be happy to work off your quotes, you need to find out off the lender what they want you to do. The 2nd it on your list may be cured by a couple of air bricks, which would cost only £10s of pounds to sort out.

nippy26

Thanks for quick response...I am a little anxious as to what I should do, so thanks very much.

Our mortgage offer states the original purchase price and under the special conditions, it says that the retention has been waived and that we are advised to complete any essential works recommended by the valuer so that the property does not deteriorate. So sounds like we could just go ahead and purchase the property, but I worry that it might be costly afterwards....should we speak to our solicitor who can advise? Maybe we need to try to renegotiate the purchase price or get the vendor to complete the works??

BobProperty

OK so there won't actually be any retention after all, but they want the work doing. It isn't uncommon, just remember to write to them to tell them you've done it or in 15 months time some minion at BS HQ will write to you asking if you've done it and you'll be going er, what was that about?
Item 1. Do it. It will have no benefit whatsoever to the house unless you need it, at which point it will be the greatest investment you ever made.
Item 2. Have a look around this forum and others about Damp. There is a lot of rubbish talked about damp, especially by people selling damp course systems. I have known of a "surveyor" claiming somewhere was damp because his damp meter said so. The fact that it works by measuring electrical conductivity and he had stuck it into foil faced board didn't occur to him.

nippy26

So is this not the vendor's job to get this sorted? I am going to speak to my solicitor on Monday anyhow, but thought this might be something for the vendor to sort prior to exchange??

In addition to this I have had a call from my EA on behalf of our buyers, suggesting that I pay for central heating to be tested as it has not been serviced. This is the first time I have heard of anything like this to be honest...where do I stand with this one?? I shall of course put this to my solicitor also, but just wondering.

Xbigman

It might be easier to get it serviced rather than tested because a service will highlight any problems anyway. I consider this an essential in the absense of a full service contract. Try to use the manufacturers engineers if possible. British gas and a lot of independents seem to find lots of work that needs doing or upgrades that need adding to meet the latest regulations.
Regards



X

clutton_2

"". Provide plasterboard facing to exposed timber frame work/fire break walls in the loft. 1 hr fire resistance required""

as Bob says, this will save your life if there is a fire next door. Its not a vastly expensive job. If you dont do it and there is a fire, your insurer will not pay the full claim.