mortgage lender sympathetic to single skin extension?

[thingston]

Hi, we're trying to buy a four storey house originally built in 1850. The mortgage valuation report indicated that the 2nd level only of the rear two storey extension is single skin construction and our original mortgage company, Northern Rock, refuse to lend on it, despite the fact that the valuer only recommended a £500 retention.

We obtained an engineer's costing for making the storey cavity/double skin (£25,000) and sent the report to the lender asking whether they'd consider retaining the cost of the work needed to make the 2nd storey acceptable, with the retained money to be released when the work was complete, but they stated that they would still not consider lending on it as it was against their policy. We were shocked as we were only borrowing 2/3 of the property value and the problem only affects 1 room out of 12 at the property!

Has anybody experienced a similar problem and overcome it with a more sympathetic lender. If so, which lender PLEASE?!

 

[NT]

Your non-lender sounds like a wally. Personally I would not consider spenmding 25k on a 2nd wall leaf, but I would get it insulated as single skin walls are fairly poor on heat loss.


NT

 

[Ian Bond]

Try the Norwich and Peterborough.

I've not had the same problem myself, but they were not put off by my squalid hell-hole - I mean cottage, so you never know.

I've heard good reports about them from others.

 

[Silas]

I had this come up in a survey on the rear bathroom extention (former scullery and outside bog) of my old (1887) end terrace. I used the Cambridge Building Society who put on a retention with work to be done in 12mnths, our solution was shiplap boards with insulation to the outside walls, this worked well and was an attractive and cheap solution.

 

[Ian Bond]

Hi Silas

I seem to remember seeing a pic similar to what you described, a while back - it looked great. Was that your pic by any chance?

Ian

 

[Silas]

Hi Ian

It could well have been. I moved from the end terrace a few years back and Im now in a 17thC timberfame Cottage, very much a work in progress as and when funds permit. If heating costs keep on there upward curv then possibly sheeps whool and shiplap boarding will be applied to the current Cottage. :?