bridging loan and mortgage in principle

Treety_P

Hi
I would like some advice on my current house buying situation:

House i want to buy is part timber frame with no kitchen and bathroom.

I have a mortgage in principle to buy new house which is now rejected as wont give it as house has no kitchen and bathroom I dont think the timber frame issue is going to hold it back.

I need to get a bridging loan to put in the kitchen and bathroom so lender will give me mortgage in principle as i wait for my house to sell. I have a buyer and i am in a chain.

If i get the bridging loan...how do i know the mortgage lender will follow through?
Do i exchange contracts first? Do I own the house before i do work on it?
How can i make sure this will all work out?

Thanks in advance x

GMS

How much are you buying the house for?


How much deposit do you have?


How much will the works cost?


Do you have the funds for the works?

Treety_P

buy for 250k
deposit about £60k
works cost about 10 to 15K
yes got funds for works


Csn i remortgage my current house instead?