Remortgaging Problem

Bubbless

_pale_

Hi all,

I am really stressed, hope someone can help.

I am currently extending my kitchen and doing other work in the house. The plan was to get a remortgage to fund the costs. The mortgage adviser told me to start the work and he will get the remortgage sorted and it won't be a problem, in fact it would enhance my prospects as the surveyor will see that the house is being improved.

Anyways to cut a long story short, I booked for the Surveyor to come in next week (30th November 2012) to value the property. In the meantime my kitchen has been knocked down! So I emailed the mortgage advisor asking him if it was ok and he now decides to tell me that in order to get a mortgage the house needs to have a working bathroom and kitchen!! What am I supposed to do now?????

The builders are saying that I should have a roof in the kitchen by Tuesday, but I highly doubt that everything else can be done!!!

Does anyone have any ideas what I can do??

Will the house be undervalued as I have builders in?

Help!!

kingstreet

The adviser is an !!!.

Under no circumstances do you start something on the basis the money for it will be a formality. A property is unmortgageable if it doesn't have a rudimentary kitchen and bathroom.

Bubbless

I have managed to obtain a freestanding cooker and could get a sink put up by Friday, will this be satisfactory for the surveyor??

We are just about to scrape through if the remortgage doesnt come through, but would really like the remortgage.

Will the surveyor mark the property down for having builders?

kingstreet

It needs a sink, drainer and worksurface, IIRC.

The surveyor won't mind anyone working there, as long as the basics are visible.

Bubbless

Work surface - could this be a table? What is IIRC?

kingstreet

Table - no idea.

IIRC - If I remember correctly.

Get surveyor's details and phone them (or get chump broker to do it!) and ask what they expect to see?