A
Anonymous
Guest
I am in the process of 'buying' a georgian semi. The house is timber framed. There is eveidence of subsidance to the rear of a two story extension which has a further single storey extension to the back of that. There are some very spongey floorboards in the corner of the dinning room. There is no central heating, no means to heat water, there is electricity but it needs rewiring.
There is a structural engineers survey and quotes relating to susidence and drains, this can be remedied for £5k plus vat.
I had a cheap valuation which would not value the house as it is not habitable and cited subsidence, electrics, no kitchem and no means to heat water.
My situation is this,
the vendor has offered to 'lease' the property to me, for nothing, with a contract drawn between our solicitors stating that she has to sell the property to me within 2 years. This would enable me to get the property up to a standard where i can get a high st mortgage.
the other option is to mess around with the complex demands of a 'specialist' motgage offered by places such as norwich and peterborogh which would make it tight for me to be able to afford it as loan to value is low.
suggestions?
also.......
do you think it is likely that if i just put in a cheap kitchen, re wire and sort out the central heating and subsidence and leave the property looking like it is part way through a restoration they would seriously condiser it mortgageable???
There is a structural engineers survey and quotes relating to susidence and drains, this can be remedied for £5k plus vat.
I had a cheap valuation which would not value the house as it is not habitable and cited subsidence, electrics, no kitchem and no means to heat water.
My situation is this,
the vendor has offered to 'lease' the property to me, for nothing, with a contract drawn between our solicitors stating that she has to sell the property to me within 2 years. This would enable me to get the property up to a standard where i can get a high st mortgage.
the other option is to mess around with the complex demands of a 'specialist' motgage offered by places such as norwich and peterborogh which would make it tight for me to be able to afford it as loan to value is low.
suggestions?
also.......
do you think it is likely that if i just put in a cheap kitchen, re wire and sort out the central heating and subsidence and leave the property looking like it is part way through a restoration they would seriously condiser it mortgageable???