Unfinished extension - can we mortgage?

Little_Girl

We have had an offer accepted on a house. The vendors have started putting an extension on the back. At the moment there are rsj beams in view and an internal door as a back door. The house has a good bathroom and a kitchen of sorts. It would be possible to live in the house as long we replaced the back door. Would the fact that the vendors have started the extension be a problem when getting a mortgage? Does anybody know if there are some lenders more likely to give us a mortgage on a house in an unfinished state? We will be finishing the extension and have the funds to do so.

pararct

Planning Permission?

You need to elaborate on 'kitchen of sorts' It either has one or doesn't. If it doesn't you may have trouble getting a mortgage advance at all.

What sort of (% of purchase price) deposit are you bringing to the deal? The lender will value the house as not having an extension.


End of the day it will all hinge on the numbers.

Little_Girl

Thank you for responding. Because our offer was accepted on a friday afternoon we haven't been able to talk to a mortgage advisor yet.

In answer to your questions:

Yes it has planning permission, we've seen all the paperwork the local council have on it and there doesn't seem to be a problem with that.

The kitchen is a mixture of at least three different kinds of kitchen units so it looks very strange but it does have a sink, cupboards and a cooker so it does have a working kitchen.

We have a 20% deposit which will hopefully help matters.

Thanks again.

Little_Girl

Just to add it seems they are selling because they are going through a divorce.