Mortgage for unhabitable house

Ran123ran

I am looking to buy a that has no kitchen or heating. The kitchen is stripped bare with no sink, no units, no worktops, no cooker and no boiler to provide heat and hot water. The rest of the house is ok and just needs decorating.
I have been told by all main lenders that they wont lend as house is classed as unhabitable with there being no kitchen or heating.
The house is a reposession so is sold as seen.
Please can some one advise how i might be able to fund this purchase?

Lilla_D

Bridging loan until you make it habitable and then remortgaging it could be a solution. Granted, your lender options will be limited and the initial costs higher than you might hoped for with a normal lender, but it's a potential option.

ACG

As above. You need bridging finance.

Thatroute is more expensive. Circa 1% per month interest and around 2-3% in fees. Once the work is done you can remortvage. Although you need to check that the lender is happy to remortgage a property bought with bridging finance as not all are.

Whistler23

The place we've just bought has no kitchen or heating, severe rot and woodworm. Accord lent to us as FTBs, 90% and no retention. This is at 2.3% fixed for 2 years.

Might be worth having a look at them?