Condition of mortgage

Riq

Survey came back from the bank, just the basic one and part of the chimney breast has been removed. Ground floor has a chimney, 1st floor been removed but then there is a chimney in the loft.

As a condition of the mortgage do I need to have this done prior to purchase or within a set time of moving in.

Excuse my ignorance. Not sure how this all works.

Thrugelmir

What does the surveyor recommend?

Riq

Recommends it should be looked at by a builder.

hcb42

normally you would have it done when you move in, they might stipulate e.g. within six months.

It's a relatively common thing

Thrugelmir

Riq wrote: »

Recommends it should be looked at by a builder.

Then do so. Get the work costed and negotiate with the vendor.

Any potential purchaser will have the same issue. So if they wish to sell they'll most likely have to concede on price.

ab7167

If it hasn't been done properly, I would want it done ASAP for my own safety and peace of mine, whatever the mortgage people said!

hcb42

Thrugelmir wrote: »

Then do so. Get the work costed and negotiate with the vendor.

Any potential purchaser will have the same issue. So if they wish to sell they'll most likely have to concede on price.

It mgiht just be a recommendation to cover the surveyor. It was on my first ever house. So it may not be likely there is a problem and even if it is, the house might be priced with work improvements in mind. ( I assume the surveyor valued the house at the same time..)

Thrugelmir

hcb42 wrote: »

It mgiht just be a recommendation to cover the surveyor.

Would you buy a house where an unsupported chimney stack could potentially give way and come crashing down?

Riq

I will definitely get it sorted but wanted to know if I had to do it before I exchanged contracts etc and got the mortgage paid etc.

Also if I get quotes on this and negotiate a lower price will I need to get a new survey etc or will the old one do as the purchase price is now lower?