PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Loft conversion
Options
yoshiyella
Posts: 595 Forumite
Good afternoon,
We’re selling our 2 bed property that has a loft conversion (not listed as a 3rd bedroom).
Buyers mortgage valuation has come back with a valuation of £0 due to the loft conversion and to provide one of two documents.
We’ve owned the property over 10 years and wasn’t done by the previous owner either.
At the time we were told as it’s not being sold as a 3 bedroom house that it was just a conversion and wouldn’t need building regulations/planning permission as it wasn’t being cleared as a living space.
We’re not sure what we need to do or if this is an easily rectified situation.
Any advice/help would be much appreciated
We’re selling our 2 bed property that has a loft conversion (not listed as a 3rd bedroom).
Buyers mortgage valuation has come back with a valuation of £0 due to the loft conversion and to provide one of two documents.
We’ve owned the property over 10 years and wasn’t done by the previous owner either.
At the time we were told as it’s not being sold as a 3 bedroom house that it was just a conversion and wouldn’t need building regulations/planning permission as it wasn’t being cleared as a living space.
We’re not sure what we need to do or if this is an easily rectified situation.
Any advice/help would be much appreciated
0
Comments
-
Loft conversions don't require planning permission but they must meet building control regulations and have a completion certificate.
As you don't have one there are 2 options
i) You can offer to get indemnity insurance. This is cheap but may not satisfy the lender
ii)Get a regularisation certificate. This is expensive and time consuming and may not be possible as you don’t know when the work was done. To find out you need to talk to the planning department at your local Council but if you do you cannot get indemnity insurance.
So try for indemnity insurance first. To get this you need to talk to your solicitor.
1 -
We bought the house in 2014 - should we have got a certificate as part of that purchase? We bought with a mortgage. Neither of us recall this being brought up at that tone.We’re trying to locate the files we had the time but all our things are in storage and we used House Network which are now out of business0
-
Could contacting our mortgage provider be of any help/use?0
-
yoshiyella said:We bought the house in 2014 - should we have got a certificate as part of that purchase? We bought with a mortgage. Neither of us recall this being brought up at that tone.We’re trying to locate the files we had the time but all our things are in storage and we used House Network which are now out of business1
-
When you say start with the solicitor - do you mean our one that we’re using to sell the property or the one we bought the property with?
Thanks again0 -
yoshiyella said:When you say start with the solicitor - do you mean our one that we’re using to sell the property or the one we bought the property with?
Thanks again1 -
Thank you!!
The mortgage provider for the buyer is Nationwide - have you had any experience with them and this sort of thing?0 -
It’s not likely to be a lender-specific thing, they all follow the same standard instructions to solicitors. Just talk to your solicitor.1
Categories
- All Categories
- 343.6K Banking & Borrowing
- 250.2K Reduce Debt & Boost Income
- 449.9K Spending & Discounts
- 235.8K Work, Benefits & Business
- 608.8K Mortgages, Homes & Bills
- 173.3K Life & Family
- 248.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards