Remortgaging on a house with extension that has not been signed off

Dipsydoo

Hi all

We've recently completed an extension to our property but have yet to arrange the completion certificate.
Due to unforeseen circumstances we are now in a situation where we really need some ££ so are looking to remortgage to free up some money.
I envisage that it might be impossible without the completion certificate though, can anyone confirm if that is correct?

Thanks

kingstreet

Dipsydoo wrote: »

Hi all

We've recently completed an extension to our property but have yet to arrange the completion certificate.
Due to unforeseen circumstances we are now in a situation where we really need some ££ so are looking to remortgage to free up some money.
I envisage that it might be impossible without the completion certificate though, can anyone confirm if that is correct?

Thanks

Probably. Will depend on your chosen lender and its solicitor.

Wh05apk

Unless the lender does a desktop valuation (if you have a low LTV and "forget" to mention you have done an extension!) then almost certainly it will be a major problem, as potentially if the property was repossessed in its current state, the extension may have to be demolished before the lender could re-sell the property.