House I'm buying is unmortgageable!!

halesowenmum

Doozergirl wrote: »

You're at the point now where you either walk away, find another mortgage company that might accept you I am getting to that point ie seeing if I can get a mortgage from another mortgage company but cue the issues of: me not having 2 yrs of accounts for my work, cue £2500 in early repayment fees (I can suck that up if it's the only way) and clearly cue another survey - oh, and find a mortgage company that doesn't mind single leaf party wall - something I've no idea how many have this ridiculous blanket rule.

OR you make a formal complaint about the surveyor/mortgage company. I think being an especially dogged person, I'm going to submit a formal complaint. My only concern with that is the time it will take - but I'm still not satisfied and still haven't been given ANY explanation of what the actual issue is - other than "we're Virgin, we don't do single leaf mortgages"

I don't build terraced houses but I don't think that even current building regs dictate a cavity wall between attached properties. The invention of the cavity wall was to weather-proof and therefore damp-proof houses. There is no weather between houses. Is there anyone on here who is a builder who would know what the modern building regs are for wall construction between two joined dwellings???

There is definitely no need to put a cavity between two existing houses - it is not a defect and no existing house needs to meet current building regs if it isn't a defect. That said, if some upgrading was needed, there would be a different way - renovation regs are more flexible than new build.

I'll tell you now that aside from there being no need I agree, not that it's doing me any good, the cost would be absolutely prohibitive. It isn't just the building of the wall, but making space for foundations then you'd have to rip up every ceiling and floor to roof level on that side of the building, and almost certainly re-wire and re-plumb where the existing will be disturbed, then replaster. That's insane.

Plus the party wall agreement with next door and potential damage to their walls by tying the two leaves together. Much more expensive than adding a leaf to the outside of the gable.

Utterly pointless and, as far as I am concerned, vexatious on the part of whoever is demnading this Virgin. It sounds like someone at the mortgage co or a typo as no surveyor could be that brainless. You say that and one wishes it were true, but this is what the surveyor at virgin is repeatedly saying. There are NO warnings on his survey about evidence of structural movement, cracking, bowing - any of the signs you might see. They keep saying 'it's single leaf, we don't lend on that'. I agree, it's utter madness that the lender has this flat out rule which also applies to a party wall - I cannot fathom it at all.

We need to know WHY they think this is necessary Dagnabbit, I'm gonna try and find out :mad::D. In building, you identify the problem then discuss resolution. A single leaf outside wall is a problem for damp and structure; internally is just not the same I totally agree.

I'll update you when I've conducted further investigations.

halesowenmum

I wanted to ask a question. I've got the complaint in with Virgin asking how their surveyor reached his/her conclusions, why they feel a single leaf party wall is a no no, the resulting mortgage decline, and the onerous repairs requested. The owners have instructed a contractor to deal with the timber and damp so that's going ahead in the next week or two. My buyer has agreed with the principal that there'll be no one moving in or out before Christmas.

However I've just had two letters from my solicitors who are dealing with the sale of my house.

Firstly they want me to pay my fees now - is it normal to pay before completion and exchange?

They want me to sign the conditions of sale contract but there's a bit on it I don't understand - 'Contract rate' which is stated as '4% per annum above the base rate from time to time of Barclays Bank plc' - is that something relating to my buyer's mortgage or something?

Secondly for me to sign the Land Registry deed of transfer document - is that ok to do now?

They are asking for the FENSA documents for the UPVC windows but when I bought this house the builder had gone into administration - I didn't get ANY documentation for ANY aspect of the house at all. They're saying I might need to pay for indemnity insurance for this - anyone any idea what that could cost as they're saying it's something I'd need to pay for and provide?

Then as to Restrictive Covenants it would appear I've breached one so that's worrying me - I've got a Sky dish up which I now realise is not allowed - what's the scoop on this, do I need to take it down so I can say no there's nothing there or what???? I don't know much about these covenents I've got to say.

Many thanks to anyone who can advise/shed light.

Doozergirl

I don't think it's normal to pay fees before exchange, or at least you want to know it's imminant before paying - you'll usually get a big bill with a full breakdown of what is required - Stamp Duty, extra deposits etc. to make it all happen. Disbursements like searches you pay for upfront - they ask for that before even doing them.

Contract rate is the rate payable if someone breaches and fails to complete, usually. It would be calculated daily.

Yes to sign the TR1. It will be kept until needed.

Indemnity insurance is a couple of hundred pounds, from recollection. It depends on house value.

Indemnity insurance on the breach of covenant also.

StumpyPumpy

halesowenmum wrote: »

They are asking for the FENSA documents for the UPVC windows but when I bought this house the builder had gone into administration - I didn't get ANY documentation for ANY aspect of the house at all. They're saying I might need to pay for indemnity insurance for this - anyone any idea what that could cost as they're saying it's something I'd need to pay for and provide?

You can order a replacement FENSA Certificate from http://www.fensa.co.uk/asp/certificate.asp

SP

halesowenmum

StumpyPumpy wrote: »

You can order a replacement FENSA Certificate from http://www.fensa.co.uk/asp/certificate.asp

SP

Oooh, great. Didn't even know that was possible!

Unfortunately nothing comes up for my address so I've emailed them and will see if they can find one. Thanks for this idea.

StumpyPumpy

halesowenmum wrote: »

Oooh, great. Didn't even know that was possible!

Unfortunately nothing comes up for my address so I've emailed them and will see if they can find one. Thanks for this idea.

My understanding is that if it isn't there, then the house has never had one. Have either of your neighbours addresses got a record? If not I would suspect that you had a dodgy builder who cut corners all over the place. I'd start wondering about what else might not have been done properly or up to standard. I hope you have had your boiler serviced since you have lived there.

SP

halesowenmum

Doozergirl wrote: »

I don't think it's normal to pay fees before exchange That's what I thought, or at least you want to know it's imminant before paying - you'll usually get a big bill with a full breakdown of what is required - Stamp Duty, extra deposits etc. to make it all happen. Disbursements like searches you pay for upfront - they ask for that before even doing them.

Contract rate is the rate payable if someone breaches and fails to complete, usually. It would be calculated daily. So if all fell through with the house I'm trying to buy and I couldn't find anywhere else and I had no choice but to pull out, how much would that be - how exactly is that calculated?

Yes to sign the TR1. It will be kept until needed. Ok.

Indemnity insurance is a couple of hundred pounds, from recollection. It depends on house value.

Indemnity insurance on the breach of covenant also.

Should I go ahead and sign the Contract & Standard Conditions of Sale/Agreement for Sale? The contract has no figures yet for any contents that the purchaser might want (he's buying for his daughter and son in law and they were interested in several items of furniture) - should I ask for confirmation of what items the purchaser wants first and ask for that to be written into the Contract and sent back to me before I sign it?

halesowenmum

StumpyPumpy wrote: »

My understanding is that if it isn't there, then the house has never had one. Have either of your neighbours addresses got a record? If not I would suspect that you had a dodgy builder who cut corners all over the place. I'd start wondering about what else might not have been done properly or up to standard. I hope you have had your boiler serviced since you have lived there.

SP

Yes, I have boiler regularly serviced and maintained. I will ask one of the neighbours and see if they have anything. Thank u.

Doozergirl

The contract rate only applies after exchange! I presume you would be pulling out before then or the whole deposit is forfeitable as well as other things.

If completion is delayed for some reason then the rate is Barclays base - so 0.5% (presumably) plus 4%. 4.5% per annum on the entire purchase price, divided by 365 for the daily rate.

The contract is formed by all documents (plus another much larger document which you don't see, of which yours is a summary of terms) so you don't need random things written into it. Any documentation about chattels will already form part.

Doozergirl

halesowenmum wrote: »

Yes, I have boiler regularly serviced and maintained. I will ask one of the neighbours and see if they have anything. Thank u.

Was the house a newbuild? Or just one of a few refurbs?

It may not be under FENSA if the work was comprehensive. A builder would end up paying twice if there is other certifiable work.

http://www.dudley.gov.uk/resident/planning/building-control/view-and-search-applications/