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What is considered 'Lettable Condition'?
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Christiana22
Posts: 7 Forumite
Can anyone help please as I'm confused as to what is considered to be lettable condition for a holiday let mortgage? The reason I ask is that we have someone who wants to buy our house to use as one & is getting a holiday let mortgage. His building society surveyor said it needed 100% retention as there has been movement over the years (none in last 35 years at least & 130 years old) and signs of damp in the front room & utility room of which we were unaware. Reluctantly we have had these jobs sorted (thinking that even if this sale fell through they may as well be done for another purchaser) but the wall paintwork & door architraves are looking bashed and chipped now and the utility room has everything back in place but new unpainted plaster. Will this be a problem when his BS surveyor comes to re-value? Thanks in advance
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Comments
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Wouldn’t think that aesthetic damage would prevent someone getting a mortgage, holiday let or no. It’d be on the buyer to freshen up the decoration if they chose to, after purchase.2021 Fashion on the Ration Challenge - 66/66 coupons remaining.1
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No, this should not be a problem at all.
It means things like - has utilities, heating and hot water. Has a functioning kitchen. etc.1 -
From the lender' point of view, provided the property offers sufficient security for their loan I doubt they will care.From the buyer's point of view, they'll want it ultimately to comply with The Homes (Fitness for human habitation) Act 2018and The Housing Health & Safety Rating System, but it is for the buyer to worry about that, not you.
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Well if you want to let a property you need a EICR, GSC, EPC of E or better.
If your offering a holiday let then all the appliances need PAT testing, fire safety so turn locks and mains wired interlinked smoke alarms.
Other checks to make sure water and heating are safe.
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Wouldn't those issues be up to the purchaser to sort once he's taken possession?1
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