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From excitement to despair
Cariad71
Posts: 263 Forumite
Evening all,Ok, we were due to exchange and complete today. BUT, it all went to pot today. Mortgage refused to release funds (bank of Ireland) because the attic has been converted without regs. The bank want.
1. Date of work
2. Structural engineers survey showing building work is safe
3. Retrospective building regs certificate OR certificate of lawfulness for existing use.
Now I know the vendor is not going to agree to this. My husband can sort point 2 easily (he's in the trade).
Ok, here's my question. Does anyone know of a mortgage provider that will accept an indemnity on a loft? I think that our only option is to apply for a new mortgage,
Thanks in advance.
1. Date of work
2. Structural engineers survey showing building work is safe
3. Retrospective building regs certificate OR certificate of lawfulness for existing use.
Now I know the vendor is not going to agree to this. My husband can sort point 2 easily (he's in the trade).
Ok, here's my question. Does anyone know of a mortgage provider that will accept an indemnity on a loft? I think that our only option is to apply for a new mortgage,
Thanks in advance.
Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j
0
Comments
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When was the conversion done?
What have the vendors said?
Why has this only been mentioned today? Did your survey pick it up?0 -
Conversion done 2005Vendor thinks its a scream- he's taken out an indemnity so thought that's ok.
We had a valuation done which said it was worth the value (25 yrs old property and husband in building trade), it's in the fine print in the valuation and it's in the 'terms and conditions' of mortgage.Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j0 -
I do not know if your husband's confidence in getting an acceptable structural survey is well-placed.
On here, there are frequent posts about attic conversions which have been done without BRegs approval. I recall a post from a structural surveyor saying that they would not be able to certify the adequacy of the conversion from a visual inspection. They would in all likelihood have to open up test holes to check whether joists had been strengthened and suitable insulation used, for example.
I do get cross on behalf of buyers whose sellers have done a cut-price conversion job and then want someone else to take the risk.
Bear in mind that the indemnity policy only guards against council enforcement. It does not cover the cost if there are structural issues.0 -
Which part won't the seller go for if your husband can sort the expensive part? Surely they won't want to lose you as a buyer?Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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The building regs bit is the expensive part! It requires all of the works to be carried out.The property is structurally sound. We can get a surveyor to verify this. It's the regs that's a pain. We are not intending using it as a bedroom, just a storage space. Regs would entail raising the floor, insulating/ replastering etc. The roof hasn't been altered, spliced beams used. Council cannot enforce work after 4 years and it's structurally sound.
Anyway, can anyone answer my actual question? Do you know of a mortgage firm that will accept indemnities on attics?Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j0 -
The building regs bit is the expensive part! It requires all of the works to be carried out.The property is structurally sound. We can get a surveyor to verify this. It's the regs that's a pain. We are not intending using it as a bedroom, just a storage space. Regs would entail raising the floor, insulating/ replastering etc. The roof hasn't been altered, spliced beams used. Council cannot enforce work after 4 years and it's structurally sound.
Anyway, can anyone answer my actual question? Do you know of a mortgage firm that will accept indemnities on attics?
You might want to edit the OP, it suggests you only need a certificate, not to substantially upgrade the structure in order to be eligible!Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
The certificate for building regs is what you get AFTER you complete the necessary works. This is what I need or the certificate of lawfulness thingy.Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j0 -
The certificate for building regs is what you get AFTER you complete the necessary works. This is what I need or the certificate of lawfulness thingy.
I understand what the certificate is, in and of itself it is only a document. Some conversions without certificates are done well, some badly. Not having a certificate doesn't mean you are in the latter group, sometimes it means planning was not sought (when that was required, or because people didn't know it was not required) so they didn't want to draw the council's attention to themselves. If work is required to meet building regs standards that is an additional issue to needing the actual certificate.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
I've just read the letter again...... calmly this time. The third requirement is retrospective planning not retro bulding. This is far better. I've gota letter from the council on my existing house saying 'planning permission is not required for internal work such as loft conversions provided the structure of the roof is not altered'Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j0
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