Getting a Mortgage for construction costs

DANCINGACCOUNTANT

Hi all.
I’m a first time buyer and had my LISA for a number of years. I’m intending to purchase a house that is fairly run down/dilapidated that I want to fix up. I intend to use my LISA to use as a deposit on a mortgage. If the mortgage I could get is higher than the value of the house, am I able to use some of the surplus mortgage for construction costs to bring the house up to standard?
I’m not sure on the whole mortgage process. 

Thanks in advance for any help!

Devongardener

Lenders generally don’t lend more than the value of the property in the condition it’s in at the time of purchase.    They will do their own valuation.
You won’t get more than that because there is no guarantee that the renovation works will be done, hence they couldn’t recover the loan if you defaulted.

amnblog

You may not even get a mortgage if the property is too 'run down'. You certainly wont borrow more than the lower of the purchase price or value.