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Mortgaging a fixer-upper - bit of a rant!
sonastin
Posts: 3,210 Forumite
I'm trying to buy a house with a few problems with the building regs approvals. My first mortgage offer expired while the vendors dithered about trying to get regularisation certificates. We've now agreed a price for me to take it off their hands "as-is" and I've re-applied for a mortgage.
I instructed my mortgage broker to inform the lender of all the issues before we applied for the mortgage - i.e. the garage extension needs to be demolished and the "loft conversion" is going to be put back as a loft. The lender said they didn't have any issues in principle lending against a property like this as long as the valuation sums add up.
So now the mortgage offer has come through. One of the things on the valuation report is a requirement that my conveyancer confirm that all the right building regs stuff is in place in relation to the loft conversion (no it isn't - hence asking for it to be considered as a loft). One of the conditions of the mortgage just refers to the item on the valuation report that says this.
Grrrrrrrrrrr!
I was hoping that we would be ready to exchange and maybe even complete next week because the only thing left to do was get the mortgage offer issued. Now I can see at least another week of delay while we go back and forth trying to get this ironed out and a new offer issued without this condition on it.
Who do you think I should speak to to get this sorted - my mortgage broker or my solicitor? Much as I'd love to speak to the lender directly, this whole housebuying thing seems to be a game of chinese whispers and I can't ever seem to get hold of the contact details of the key people to speak to them myself!
I instructed my mortgage broker to inform the lender of all the issues before we applied for the mortgage - i.e. the garage extension needs to be demolished and the "loft conversion" is going to be put back as a loft. The lender said they didn't have any issues in principle lending against a property like this as long as the valuation sums add up.
So now the mortgage offer has come through. One of the things on the valuation report is a requirement that my conveyancer confirm that all the right building regs stuff is in place in relation to the loft conversion (no it isn't - hence asking for it to be considered as a loft). One of the conditions of the mortgage just refers to the item on the valuation report that says this.
Grrrrrrrrrrr!
I was hoping that we would be ready to exchange and maybe even complete next week because the only thing left to do was get the mortgage offer issued. Now I can see at least another week of delay while we go back and forth trying to get this ironed out and a new offer issued without this condition on it.
Who do you think I should speak to to get this sorted - my mortgage broker or my solicitor? Much as I'd love to speak to the lender directly, this whole housebuying thing seems to be a game of chinese whispers and I can't ever seem to get hold of the contact details of the key people to speak to them myself!
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