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Off-plan survey
ftbworried
Posts: 358 Forumite
Hi
(ignore the user name, I'm no longer an ftb)
We are looking at a new build (upsizing) and have a AIP with nationwide and northern rock for an 85%. we thought that we were fine, but 6 weeks down the line our solicitor says that they won't start the build until we exchange (it's a bespoke build). We were not aware of this and their original info was that they'd start building on the back of a rather large holding fee, then we'd exchange once the house is up.
Anyway we now need to know whether either of these lenders will give a valuation off plan for the purposes of the mortgage offer? The EA says she got an offplan survey from Halifax. But they require 20% deposit, which we are just short of.
So, are there any lenders that offer 85% on offplan (houses)?
Thanks,
:-)
(ignore the user name, I'm no longer an ftb)
We are looking at a new build (upsizing) and have a AIP with nationwide and northern rock for an 85%. we thought that we were fine, but 6 weeks down the line our solicitor says that they won't start the build until we exchange (it's a bespoke build). We were not aware of this and their original info was that they'd start building on the back of a rather large holding fee, then we'd exchange once the house is up.
Anyway we now need to know whether either of these lenders will give a valuation off plan for the purposes of the mortgage offer? The EA says she got an offplan survey from Halifax. But they require 20% deposit, which we are just short of.
So, are there any lenders that offer 85% on offplan (houses)?
Thanks,
:-)
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