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Lifting Mortgage Retention
vaseand
Posts: 16 Forumite
We have had a mortgage offer which includes a £3000 retention. The conditions are:
- Vermiculite insulation may contain asbestos - Testing required
- Inspect cavity wall ties
- Full PCA Damp and Timber report
- Renew external decorations (repainting of fascia boards)
- Flat roof specialist to advise on flat roof condition
- Get NICEIC electrical report and Gas Safe Report
- Confirm building regulation approval for rear extension
The roof has been inspected which raised no issues and cavity wall tie/damp & timber survey booked in for Friday. The rest of the survey/reports will be booked in soon and I dont expect any issues with these as electrics are modern and vermiculite has never tested positive for asbestos in UK and vendor had negative tests on this when they moved.
At what point can we ask for the retention to be reduced? Do all issues need to be addressed before any movement on the £3000? Can we just a quote for the painting rather than have it done as it shouldn't be more than a few hundred. Is it reasonable to have this done before completion? We can cover the extra amount but more comfortable to reduce the amount.
- Vermiculite insulation may contain asbestos - Testing required
- Inspect cavity wall ties
- Full PCA Damp and Timber report
- Renew external decorations (repainting of fascia boards)
- Flat roof specialist to advise on flat roof condition
- Get NICEIC electrical report and Gas Safe Report
- Confirm building regulation approval for rear extension
The roof has been inspected which raised no issues and cavity wall tie/damp & timber survey booked in for Friday. The rest of the survey/reports will be booked in soon and I dont expect any issues with these as electrics are modern and vermiculite has never tested positive for asbestos in UK and vendor had negative tests on this when they moved.
At what point can we ask for the retention to be reduced? Do all issues need to be addressed before any movement on the £3000? Can we just a quote for the painting rather than have it done as it shouldn't be more than a few hundred. Is it reasonable to have this done before completion? We can cover the extra amount but more comfortable to reduce the amount.
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