mortgage company withholding money if no dampproofing done

[jaykay]

I'm getting the impression this is quite a common problem, reading here. But it's stressing me and I'd really like some help.

We are in the process of buying an old stone building (late 1700's) which has been a barn and house in the past, then became a barn solely and was converted to a house in 1990.

We have had a structural engineer look at it, and walked round the house with him. He says it is fine, no damper than you'd expect, especially after so much rain. He also says the woodworm holes in the timbers are old and the timber appears to have been treated when the building was 'converted' in 1990, though there are no guarantees, it was probably done by the builder.

The mortgage lender is withholding some money (we're not borrowing upto the limit of the valuation) unless we get in a specialist dampproofing and timber treating specialist and carry out all the work they recommend for a longterm guarantee.

How do I get out of this and avoid anything horrid being done to my lovely old building?

NB sending the structural engineers report isn't a good idea, because he talks about things which we will have done (brace a couple of roof timbers, replacing cement render etc.) but which the mortgage surveyor didn't notice and we don't want to give them ideas......

New to all this, any help gratefully received, J

 

[skier-hughes]

Pay the surveyor to write a report solely on the damp issue?

Graham

 

[jaykay]

Do you think he'd count as a 'specialist dampproof and timber treatment' bod? Wouldn't they expect him to be part of (can't remember the trade body for such folk) and what about the guarantee they seem to want?

I think I might ring him and see what he says.

 

[northern monkey]

Just had a similar experience on a buy to let property which was of stone construction with solid floors to the lower level. The building society surveyor held his magic damp tester to the wall and then said that I needed a timber and damp survey by a BPDPA registered contractor and that I must carry out all remedial repairs they advise.
The house was not damp but I knew that if I instructed a commercial organisation to carry out a survey, they would advise chemical DPC and charge me £15000.
I instructed a specialist timber and damp surveyor (type that in yahoo) and paid £150 for the report which confirmed wat I said, the house was not damp. The surveyor was BPDPA approved and the mortgage company withdrew the retention. Saved me a huge amount of money, and the house from work which was not required.

 

[jaykay]

Oh, that's reassuring - I'm heading for Yahoo now! Thank you!!

 

[Flyfisher]

Is it an option in such circumstances to simply ignore the BS recommendation (ha - that works two ways, but I meant building society ) and just let them keep their retention? What can they do if you don't get the work done, apart from withold their £5k or whatever?

If you look for a mortgage that has no early redemption penalties, then you could apply to borrow the maximum possible even if you don't need it or can't afford it. Then, when you receive the money, minus whatever they might withold, you can immediately pay back what you don't need, leaving you with just the amount you originally needed.

 

[jaykay]

We could just ignore it - I don't know if they'd get grotty and withdraw the lot??
I think we're going to argue to start with - try to inflict one more blow to the ignorant surveyors with damp meters. I'd feel happier if the clause wasn't there at all. Changing lenders at this stage isn't on really, especially as we've agreed a bridging loan (aaarggghhh).

 

[PC]

I'm afraid from past experience that your lenders will probably not accept a report from the SE, dispite the fact he may now what he's talking about

I'm not sure where you are located but if you go on the BWPDA web site you will find Independent Surveyors (who have no vested interest) or look on this site under Seeking Specialists you will also find some more.

PC