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mortgage an unfinished house

johnthew
johnthew Posts: 1 Newbie
in House buying, renting & selling
Can any mortgage advisor help please. We have built a house, its plastered, windows in, first fix electrics, plumbing, joinery... Looking for a mortgage to complete it... currently have no borrowings on it...

Comments

  • user1977
    user1977 Posts: 19,427 Forumite
    Eighth Anniversary 10,000 Posts Photogenic Name Dropper
    Better asking on the mortgages board than here, but if it's not currently habitable I expect you'll be restricted to development finance rather than any normal mortgage products.
  • theartfullodger
    theartfullodger Posts: 15,975 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 20 December 2022 at 12:28PM
    Talk to a couple of mortgage brokers.  Unlikely I suspect, but maybe....

    Mortgage conditions getting way tougher, especially compared to EU, cost of leaving crisis... 
  • RAS
    RAS Posts: 36,548 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Are the electrics connected?

    Ask but basically it needs a "functioning" kitchen and bathroom to enable a mortgage. Not a showroom just functional. Start looking on freegle and ebay for kit and see what you can do from there.
    If you've have not made a mistake, you've made nothing
  • user1977
    user1977 Posts: 19,427 Forumite
    Eighth Anniversary 10,000 Posts Photogenic Name Dropper
    RAS said:
    Are the electrics connected?
    "First fix" means not much more than the cables have been pulled through, so no, I presume they need the borrowing in order to make it habitable.
  • FreeBear
    FreeBear Posts: 18,325 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    A "self build" mortgage may well be suitable. You'd need a specialist broker to find one.
    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.
  • RAS
    RAS Posts: 36,548 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Depending on your plans, the Ecology Building Society may be worth talking to? Their better deals (discounts) are for property with Good levels of energy efficiency.
    If you've have not made a mistake, you've made nothing
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