Roof work needed before lender will approve mortgage

firsttimebuyer15

Hello,

I'm currently in the process of buying a victorian terrace house that has had the roof re-covered with concrete tiles replacing old slate tiles. The roof has been surveyed as part of the mortgage application with the results coming back that the roof could do with being strengthened despite no signs of distortion to the main roof but the outrigger roof is slightly distorted and because of this the lender won't release funds until this work is done. I was a bit surprised as the report only has the roof down under an amber warning which is headed "Defects that need repairing or replacing, but are not considered serious or urgent".

The work required is the three purlins on the main roof need doubling up and a new purlin needs installing on the outrigger roof. Can anyone give a rough estimate of what this might cost?

tacpot12

It would be worth getting a couple of quotes just in case there is a problem with access. If the work is going to need scaffolding, it might well cost £1,500+. If not, it should be less than £1,000.  

canaldumidi

Does it really matter what it costs?

If you can afford to buy without a mortgage, then it's up to you whether to do the work - and when (next year? 2023?)

If you can't afford to buy without a mortgage, then ..... you can't buy, can you?

I guess you could ask the seller to do the work, but I suspect I can anticipate their answer.

firsttimebuyer15

canaldumidi said:

Does it really matter what it costs?

If you can afford to buy without a mortgage, then it's up to you whether to do the work - and when (next year? 2023?)

If you can't afford to buy without a mortgage, then ..... you can't buy, can you?

I guess you could ask the seller to do the work, but I suspect I can anticipate their answer.

I find your reply a bit odd. I would have asked if it didn't matter and it does matter as if it's a lot then yes it's probably end of the road but if not maybe a solution can be found.

firsttimebuyer15

tacpot12 said:

It would be worth getting a couple of quotes just in case there is a problem with access. If the work is going to need scaffolding, it might well cost £1,500+. If not, it should be less than £1,000.  

That sounds a lot less than the figures I had been guessing at. if It was only £1500 then perhaps a solution can be found between myself and the sellers.

Crashy_Time

canaldumidi said:

Does it really matter what it costs?

If you can afford to buy without a mortgage, then it's up to you whether to do the work - and when (next year? 2023?)

If you can't afford to buy without a mortgage, then ..... you can't buy, can you?

I guess you could ask the seller to do the work, but I suspect I can anticipate their answer.

Unless they want to hang on to an unsold house with a dodgy roof they can probably only say "Yes, please" to a small price drop to cover the cost?

lookstraightahead

Hi op

sounds to me like it's something that the vendor needs to sort out. Tell them what's in the report and ask them to sort it (it's the only way they will be able to sell to you as it's part of your mortgage terms). If they don't wish to do it, they will have to sell to someone else, although I suspect they will have the same problem, especially if they know it's been flagged in a report and they have to declare it.

Sunsaru

I personally wouldn't bother with a price drop and you'll still have to find the hard cash to get it sorted. 
Either ask the vendor to sort it (as per your mortgage terms) or leave them to it.

I had a similar situation with a house I went for. They refused to sort it, I walked, the house is still empty a year later.

firsttimebuyer15

lookstraightahead said:

Hi op

sounds to me like it's something that the vendor needs to sort out. Tell them what's in the report and ask them to sort it (it's the only way they will be able to sell to you as it's part of your mortgage terms). If they don't wish to do it, they will have to sell to someone else, although I suspect they will have the same problem, especially if they know it's been flagged in a report and they have to declare it.

Yes a price drop doesn't help me or the seller currently as it wouldn't solve the mortgage problem. Good to know that they would have to declare it to any future buyers though as that might increase the chances of them agreeing to get the work done .

TIGASH

tacpot12 said:

It would be worth getting a couple of quotes just in case there is a problem with access. If the work is going to need scaffolding, it might well cost £1,500+. If not, it should be less than £1,000.  

I think this is a great idea.....I'm in a similar situation only its not mortgage related. Survey have found significant issues. So my options are walk away, pay myself, ask reduction.
Knowing the definite amount of money will help you make decesion. 

I would suggest you find out timescale as well. This will give you an idea of how it will change your plans. 

Good luck

lookstraightahead

firsttimebuyer15 said:

lookstraightahead said:

Hi op

sounds to me like it's something that the vendor needs to sort out. Tell them what's in the report and ask them to sort it (it's the only way they will be able to sell to you as it's part of your mortgage terms). If they don't wish to do it, they will have to sell to someone else, although I suspect they will have the same problem, especially if they know it's been flagged in a report and they have to declare it.

Yes a price drop doesn't help me or the seller currently as it wouldn't solve the mortgage problem. Good to know that they would have to declare it to any future buyers though as that might increase the chances of them agreeing to get the work done .

My vendors had a previous buyer whose report had lots of issues. In the end the buyers didn't buy, but the vendor had the work done and a structural engineers report carried out knowing full well that the questions would come up again when they re marketed the property.

but do check what they would 'have' to declare as a survey is usually just 'an opinion' maybe