Natwest Additional Borrowing

MWT

gunner786 said:

Will just a builders quote do? Even though i wont be needing planning permission but can i also send a statement of a personal loan £11000 which i am also going to pay off. And just a builders quote of the works quoted for and a price.

That doesn't seem likely to meet the standard of 'detailed builders/architects plans', and slipping in some debt consolidation may be an issue as well....

Rlbd

At gunner786 I am currently in the same position, did you have to provide quotes for the full breakdown or just for the big parts of the project. I have included decorating and flooring in my request which will be difficult to quote for until the work is done 

eschaton

gunner786 said:

ACG said:

gunner786 said:

ACG said:

Ask the builders for written quotes. If it makes you feel better, tell them they are for the mortgage lender. 
Will the property be habitable? If so - tell them that, one sentence should be enough. If not, tell them how long you will move out for and the plans. 
Let them know if the amount you are applying for involves a contingency fund, it not confirm that. If so, let them know and how much you have included. 

Maybe its because I do this every day, but your asking for £80k... Its not a lot for them to ask for. 

Thank.you. is a mixture of alot of stuff i want to get done. Garden, driveway, kitchen units refit etc. My builders are solid but will be using different people for different jobs. So got abit overwhelmed lol. The extension is only about 2m so doesnt need planning permission but overall everything will add upto about 60k with about 20k left for use elsewhere. My house is worth about 400k with 51k left i thought they might not ask too msny questions due to the equity we have even after the additional.

Ask the main builder to give you a written quote for your mortgage lender. If they have been around a while it wont be their first. 

Just got this from the natwest advisor.
As an update, the underwriter has agreed the application subject to two things:

 

1. The valuation (which has been instructed) 

 2) Full detailed builders/architects plans and quotes for the proposed home improvements to be completed with the £80000 being raised

Will just a builders quote do? Even though i wont be needing planning permission but can i also send a statement of a personal loan £11000 which i am also going to pay off. And just a builders quote of the works quoted for and a price.

No point in drip feeding us.

The £60k cost and £20k contingency sounded good.

That contingency is already down to £9k.