"Unmortgageable property" - options

babyblade41

I think this is a great property if no mortgage needed and plenty of spare cash to bring this up to an amazing home..
I sold my Grade 2 because it was just a money pit and everything  that you want to do needs council approval which in my case took forever 
The thatch alone will cost a small house to replace and don't forget the insurance.

As lovely as it could be this is not a small renovation project, it will have to back to the bear bones and you won't probably want to live in it whilst the bulk of work is being done 

caprikid1

I live in a house and I am so glad it's not Grade 2 listed, so much I have done would be a real challenge.

AskAsk

to buy a property like that without a mortgage, you would really need to have a lot of capital or an investor.  it will cost a lot of money to renovate.

i would advise forget about it if you can't get the mortgage on it.

MEM62

Melkelvardil said:

jimbog said:

this one?

Yep that's the one.

Wow!  That has the potential to be stunning.  Listed - that'll cost you when renovating.  I would not be of the opinion that is uninhabitable.  Who says it is?  Hope you manage to find a solution.  

artyboy

Me likey. Always wanted a retirement cottage in that area and I've got some experience with listed building renovations. In fact maybe I'll just grab it now for cash...

(OP, don't worry, whilst I would indeed like a project cottage, this one is a bit too far away from me, so only kidding  . Best of luck to you)

kingstreet

Suggest to your broker that he considers looking at Ecology Building Society.

youth_leader

What a wonderful building - but you will spend every penny you have on it. We fell in love with our 1847 listed grade II railway station and threw everything at it.  We didn't have holidays for years and years which I will always regret, and it still needed a minimum of £200K spent on it when my husband died.

I did try to sell through an estate agent but eventually put it into auction and sold to a horrible developer who also wanted the skin off my back when he tried to buy through the EA.  Initially he offered £355K, dropped to £305K after the survey.  Said that 'the seller' could do £50K worth of repairs and his lender would 'inspect' my work and lend him £330K if 'satisfactory'.  I lost it after reading this and left the EA and withdrew from the sale with him.  Unfortunately the girls at the EA obviously told him I was going to auction, and he offered the most.  It wasn't what I had hoped for, but was enough to buy somewhere so I had to settle. 

He messed about at the auction saying he wanted eight weeks, then he had to pass it in front of his 'underwriters' - he got a mortgage from National Westminster bank.  

PS five years later the house is in a terrible state - planning permission has been granted, but nothing seems to be happening.  Unfortunately I have to drive past occasionally.  I was looking forward to seeing the house restored.

[Deleted User]

That bathroom was to my taste... in 1970.

Hoenir

What's the damage caused? Presumably after the photos were taken. 

The property has been the subject of vandalism and any potential buyer will need to satisfy themselves as to the works involved to make any necessary repairs as part of the overall refurbishment.

BungalowBel

It is lovely.


But bear in mind, as a Grade 2 listed thatched  property, it will be a money pit.