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Georgian house purchase that needs renovating
CDVehiclesolutions
Posts: 7 Forumite
Hi everyone.
Looking for some advice.
We currently own a property that we are about to list for sale. We anticipate in clearing after fees about £80K to £90K
During our search for our next property, we have discovered a Georgian house that needs renovating, it currently has no working kitchen or bathroom.
The purchase price is currently listed at £295,000 this is £110K under our budget that we are currently looking at properties for sale.
My question is, How can I get a mortgage on this property without it being habitable? We would be looking to move in as soon as a Bedroom, bathroom and kitchen were completed.
Any advice would be much appreciated.
Looking for some advice.
We currently own a property that we are about to list for sale. We anticipate in clearing after fees about £80K to £90K
During our search for our next property, we have discovered a Georgian house that needs renovating, it currently has no working kitchen or bathroom.
The purchase price is currently listed at £295,000 this is £110K under our budget that we are currently looking at properties for sale.
My question is, How can I get a mortgage on this property without it being habitable? We would be looking to move in as soon as a Bedroom, bathroom and kitchen were completed.
Any advice would be much appreciated.
0
Comments
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Speak to an independant mortgage broker. You can't get a standard residential mortgage you'll need a specialist renovation mortgage.
4 -
Do not underestimate the amount of work or the time required to do any renovations. With a property of this age, there it is very likely that you will uncover no end of bodges & questionable historic repairs that require attention. If you are real lucky, and the house hasn't been buggered about with, you might get to move in after three months of hard work.CDVehiclesolutions said: we have discovered a Georgian house that needs renovating, it currently has no working kitchen or bathroom.We would be looking to move in as soon as a Bedroom, bathroom and kitchen were completed.
Any language construct that forces such insanity in this case should be abandoned without regrets. –
Erik Aronesty, 2014
Treasure the moments that you have. Savour them for as long as you can for they will never come back again.1 -
Georgian... listed?0
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This is yet to be determined as it doesn't state on the for sale listing that the property is listed.Georgian... listed?0 -
Take you two seconds to find out...CDVehiclesolutions said:
This is yet to be determined as it doesn't state on the for sale listing that the property is listed.Georgian... listed?
https://historicengland.org.uk/listing/the-list/
3 -
THANKS for the link Adrian - just checked and it's not listed.0
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PM Sentgreatcrested said:Speak to an independant mortgage broker. You can't get a standard residential mortgage you'll need a specialist renovation mortgage.0 -
Thanks for the PM. However for more specialist advice on the mortgage you'll need, either speak to a mortgage broker, or post on the mortgage board here.I'm not an expert so can't add much more.1
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