Mortgage for Incomplete Self Build

Montyd890

Happy New Year to all,

My wife and I have recently found the house of our dreams, an old Chapel that has been partially renovated. It has water plumbed to the house, oil fuel, electricity but does not have a kitchen, bathroom, heating....the list goes on. Our plan was to purchase and buy basic amenities initially to make it habitable, then long term make it into the house we always wanted.

In December we applied for a mortgage and a survey was conducted. We received the news that the mortgage lender would not lend due to the state of the property( As it is not habitable at the moment) categorizing the house as an "Incomplete Self Build".

My question is: What can we do? I understand that there are specialist lenders out there that may lend for this type of property, has anyone got experience of this?

Thanks in Advance,

Mike

Spiggle

Montyd890 wrote: »

Happy New Year to all,

My wife and I have recently found the house of our dreams, an old Chapel that has been partially renovated. It has water plumbed to the house, oil fuel, electricity but does not have a kitchen, bathroom, heating....the list goes on. Our plan was to purchase and buy basic amenities initially to make it habitable, then long term make it into the house we always wanted.

In December we applied for a mortgage and a survey was conducted. We received the news that the mortgage lender would not lend due to the state of the property( As it is not habitable at the moment) categorizing the house as an "Incomplete Self Build".

My question is: What can we do? I understand that there are specialist lenders out there that may lend for this type of property, has anyone got experience of this?

Thanks in Advance,

Mike

Hi Monty,

There may be some on here who have experience of this but you'll get more replies if you post a question on the Mortgages & Endowments Board.

Hope that helps,
Spiggle

Montyd890

Thanks Spiggle,

I will try that.

Mike