Equity Relese & Building Control

Bellebutton

Hi all

We are looking to buy a house cash with a view to releasing some equity in the future for renovations.  There is an extension built 1996 that has planning permission but no Completion Certificate was applied for. As I understand it the vendor could take out an indemnity to cover this or apply for Regularisation Certificate.  My question is would either of these hinder our chances of equity release/lifetime mortgage?

Any advice welcome.  Thank you

MWT

Just behave as if you were getting a mortgage and ask the vendor to provide whichever you prefer, but in general if it has been up for 25 years and there are no signs of problems with the construction, damp, ventilation etc. then it is unlikely to be an issue when getting a valuation for equity release.

If you know now that you will want to take equity release at some point then do also pay attention to other things the lenders don't like, like adjacency to commercial/industrial premises, method of construction and general state of repair.

user1977

By now, it's as irrelevant as whether there is paperwork for the original construction of the rest of the house.