Informing mortgage lender about lack of BR

vkvp

Hi All, Previous to my threads and thanks to everyone who answered them I've decided to go ahead with the purchase with indemnity insurance and the works were carried out 3 years ago. We've also managed to negotiate with vendors to knock-off a few grand from initial offer we made (still above the original asking price) as we are taking over the risks. My questions are
1. Can I just ask my solicitors to let go of BR documents and forget about retrospective consents (as council can take anywhere between 10 - 12 weeks in current circumstances) and inform my lenders about the Indemnity insurance and get their approval? They are currently waiting for vendors solicitors to say the final words of "No to retro consents and go with indemnity insurance". 
2. How long does lender(Halifax in my case) take to approve this situation considering the works are minor (WC & Garage conversion to playroom)?
3. What things will lender consider to consider Indemnity insurance in lieu of Building regulations completion certificate?
4. Will my lender worry about the new price we negotiated to?
5. I'm still waiting for my Building survey to happen which is next week, but I'm hoping there won't be BIG surprises. 

greatcrested

Really no need for a new thread (this is the 4th on this matter). It's far more helpful to keep all the related info in one place

https://forums.moneysavingexpert.com/discussion/6208722/does-converting-a-current-bathroom-into-a-bedroom-need-building-regs/p1

However

1) Your lender's solicitor will advise them of whatever they need to be told

2) betwen a week and 5 weeks

3) they will take the advice of their solicitor. What has he told you?

4) yes. they will adjust their mortgage offer accordingly

5) that seems a sensible atitude

davidmcn

vkvp said:

3. What things will lender consider to consider Indemnity insurance in lieu of Building regulations completion certificate?

If the risk is adequately covered by the insurance, I doubt the lenders will care beyond getting the solicitors to tell them that.

vkvp

greatcrested said:

Really no need for a new thread (this is the 4th on this matter). It's far more helpful to keep all the related info in one place

https://forums.moneysavingexpert.com/discussion/6208722/does-converting-a-current-bathroom-into-a-bedroom-need-building-regs/p1

However

1) Your lender's solicitor will advise them of whatever they need to be told

2) betwen a week and 5 weeks

3) they will take the advice of their solicitor. What has he told you?

4) yes. they will adjust their mortgage offer accordingly

5) that seems a sensible atitude

Thanks for that. 

For Point 3) I think our solicitors are also dealing for my lendors too ( I remember they mentioned somewhere they need to act on both of lender & my interests as part of Initial docs).

And a bit on seperate note - Can I ask my surveyor that I would like to join him during the survey? is it common for buyer to present during the survey?

Thrugelmir

vkvp said:

greatcrested said:

Really no need for a new thread (this is the 4th on this matter). It's far more helpful to keep all the related info in one place

https://forums.moneysavingexpert.com/discussion/6208722/does-converting-a-current-bathroom-into-a-bedroom-need-building-regs/p1

However

1) Your lender's solicitor will advise them of whatever they need to be told

2) betwen a week and 5 weeks

3) they will take the advice of their solicitor. What has he told you?

4) yes. they will adjust their mortgage offer accordingly

5) that seems a sensible atitude

Can I ask my surveyor that I would like to join him during the survey? is it common for buyer to present during the survey?

For what purpose? 

greatcrested

Yes almost certainly the same solicitor which is why I asked you what he had told you!

Surveyors generally hate having clients following them round peering over their shoulder while they try to do their job!

Ask if you can meet him when he finishes, or more usefully have a phone conversation once you've received and read his report (and hence have relevant questions to ask).

vkvp

greatcrested said:

Yes almost certainly the same solicitor which is why I asked you what he had told you!

Surveyors generally hate having clients following them round peering over their shoulder while they try to do their job!

Ask if you can meet him when he finishes, or more usefully have a phone conversation once you've received and read his report (and hence have relevant questions to ask).

Yes I thought about it and not wanted to annoy him during him doing the job Atleast I wanted to meet him post his survey so I can get an early idea of his opinion before seeing the detailed report.

greatcrested

No reason not to ring him and ask.

The cheaper surveyors tend to work on volume ie the more surveys they can fit into a day, the cheaper their rates can be, but the more reluctant they'll be to provide a personal service beyond the written report.

More traditional surveyors may charge more but will be more willing to devotepersonal  time to their clients.

If you ring, the worst that happens is he says no!

Angela_D_3

vkvp said:

greatcrested said:

Yes almost certainly the same solicitor which is why I asked you what he had told you!

Surveyors generally hate having clients following them round peering over their shoulder while they try to do their job!

Ask if you can meet him when he finishes, or more usefully have a phone conversation once you've received and read his report (and hence have relevant questions to ask).

Yes I thought about it and not wanted to annoy him during him doing the job Atleast I wanted to meet him post his survey so I can get an early idea of his opinion before seeing the detailed report.

Just let the person do their job,  you see the report when they’ve finished it 

davidmcn

vkvp said:

greatcrested said:

Really no need for a new thread (this is the 4th on this matter). It's far more helpful to keep all the related info in one place

https://forums.moneysavingexpert.com/discussion/6208722/does-converting-a-current-bathroom-into-a-bedroom-need-building-regs/p1

However

1) Your lender's solicitor will advise them of whatever they need to be told

2) betwen a week and 5 weeks

3) they will take the advice of their solicitor. What has he told you?

4) yes. they will adjust their mortgage offer accordingly

5) that seems a sensible atitude

is it common for buyer to present during the survey?

It's not common, no, though for my last survey I was offered (but didn't take up) the opportunity to join him at the end so he could point out anything noteworthy. I doubt any surveyors would be keen for their client to be tailing them around the whole job.