FTB clarification would be greatly appreciated...

mrsbmartin

It has a new boiler that was put in as part of a heating for the poor/elderly type scheme, the electrics are apparently ok but BIL is an electrician so no problem there really (even if Natwest added a retention we could still get the work done for free). EA has said that there hasn't been any issues flagged up. The kitchen and bathroom are habitable (just about!!). There seems to be some sort of damp issue as the wallpaper is peeling etc but there isn't a damp smell. It essentially needs a full decoration with new kitchen and bathroom and, depending on purchase price, we would look at a loft conversion too. The house is on the same street we live on and the houses are particulaly sturdy - we have spoken to lots of the neighbours and no one seems to have had any issues (I'm not in a false sense of security - we will still get a full structural survey if we decide to go ahead with it). Developers have offered the vendors £50k, FTB's are a bit scared of the decor...it will have a ceiling price of about £115-120k once done up.

Spoke to Natwest today via telephone and they will give DH a loan that ties in to the mortgage repayments so the house is still a possibility.

holly_hobby

Ok - as thought its an additional personal loan, not 100%+ mge that the MA is referring to.

You need to consider (if you only have 9k deposit in total), how you will complete if there is any retention on survey.

Hope this helps

Holly