PSC88

Thanks, not under permitted development as in conservation area so all removed

Hi I am applying for a self Build mortgage and own the land. quotes for conveyancing are coming in around 2.5k mark just wondering what the comveyancing involves? as I already own the land searches etc are these still necessary? thanks

Thanks Wisteria i have a broker and we are working through the mortgage application. so far the lender has asked for quotes for warranty etc and solicitor details. They have given me an indication in principle for the lending i just wondered if I’d have a full mortgage before i have to fork out for the warranty and conveyancing etc as no point paying 10k for the warranty and other 2k for the conveyancing and then the bank says no

Hi we have full planning approved. we have made some amendments to our second floor habitable loft. Namely making better use of the loft space and creating another room from the wasted eaves space. i have also added a skylight to this room which will only be visible from a Birds Eye view and not ground level, this was previous going to be a flat area of the roof. these drawings are the ones we are moving forward with for building regs. Do I need to resubmit plans or ask for non material amendments? my architect states as the changes are mainly internal (bar the roof light not visible from ground) that we need to do nothing. i just want to make sure I don’t have any issues with building regs/council building warranty etc going forward

Hi I’m in the process of collating all my documents/quotes etc before applying for my full self build mortgage application. There are a lot more ‘initial’ costs involved with a self build ranging from initial costings/QS charges for the build/broker fees etc ive been quoted 2k for the conveyancing. and then we have approx 10k for the self build warranty. my question is when do I fork out for these costs. will I have a full decision from the mortgage company stating happy to borrow the money? Then engage in spending all these ££££ on solicitors/warranties/insurances? as I don’t want to be out of pocket if the mortgage company say not happy to lend for the project or I need to save more cash for my first stages on build

Hi Nod thanks for your reply, my for instinct is to go cheap as possible. will my self builder lender question the amount of cover I go for? For example I’ve submitting costings for my build circa £900k to the lender. if I was to get a warranty cover for say £900k (even though this is me self managing saving costs etc as using a turn key builder/contractor will be a lot more) finally will the warranty company ask for any more details once they give the quote? In terms of rebuild costs or is it a case of that’s the desktop quote purchase it and that’s that done. Ive also heard of some warranty company inspectors being very picky when doing inspections etc so didnt want to save a few pounds now and pay later during the build

Hi I’m the process of starting a rebuild and standing my mortgage. ive had a few warranty quotes some ranging from around 8k- £15k Conoanies have asked for varying level of details for quote, some asking for copy of the plans and contractor details etc others just asking simple questions like location square footage construction type etc. My current construction costs are coming out around the £1mill park. This is me self managing the projects and using individual contractors. (Also getting a really good and discounted price on the bricks). some of the warranty providers have quoted on a rebuild cost of £1mill others have stated professional reinstatement cost of £1.5mill. i already own the land. my query is, i want the warranty as cheap as possible as its there just so my property is mortgagable and secondly saleable if i need to sell in 10 years. thw valuation does it matter should I just go cheap as possible and get the best price ? or should I go all out and value the rebuld at max value and pay the extra few K many thanks

thanks for your reply, when doing the costings for the build and providing these to Harpenden what level of detail did you go in to? Was this all provided as a quote from the builders? And did they query this at all? Many thanks

Thanks for the reply, did you use a turn key builder? who did you use for the mortgage? im looking at project managing and having different contractors working for up to shell level and then internal fit out.

Will a costing spreadsheet from estimators online be enough for my self build mortgage application? To give a rough cost of the build

Hi I’m in the process of applying for a self build mortgage and need to get some costings which will be accepted by the bank. i have my full planning permission and my architect is working on building regs drawings. it will be a few weeks before the building regs drawings are ready. will I be able to get accurate costings from just the full planning drawings or will I need to wait for the building regs? any suggestions to a QS/online estimator that will be acceptable by the bank?

Thanks for your reply I will certainly have a look through your previous posts. did you use a particular broker for the mortgage with ecology or go direct. I too have heard positive things about ecology the issue may be the maximum lending is capped to 650k outside of London and I’m going to need around the £800k mark with my ten percent contingency. also if you visit the ecology website it currently states they are temporarily unable to accept new self build applications and you have to fill out a form to see if this changes.

Hi there I am in the process of starting my journey to apply for a self build mortgage application I have a few queries I’m hoping I can get answers too! i own the land already with a bungalow to be demolished. The value of the land with bungalow is equivalent to the land with its full planning permission for a new build two storey home which will be double the footprint. This has been valued by local agents as such as the bungalow has very little material value and and value is in the land. currently have a modest mortgage on bungalow which is about 25% of the total land value. i will have the funds to clear this completely and start of with completely unencumbered plot and borrow on a self build or alternatively transfer the mortgage to a self build and use the funds to start the build and get through the first stage. my query is two fold, one is the build cost. I will be project managing contractors and have had quotes as such for the shell and roof and then internal fit out. How much detail will I need to provide for the build cost as I’m based in the midlands and online estimates per square footage is coming out a lot more? Builders have just finished a build on the same road and have given me a quote which is much more reasonable and in line with local build costs. It’s a straight forward brick and block design with habitable loft space (the loft space square footage seems to be being calculated at a normal square footage rate online) where as usually this will be much cheaper. when estimating build costs will the mortgage company want this WITH or without VAT as obviously will be able to claim some of this back at the end of the build. secondly regarding income multiples me and my wife are both self employed professionals will be be able to borrow 4.5-5x on a self build as per a normal residential? Will any self build mortgage companies take into account self employed retained business income or just salary and dividends. And will it be based on the last year or an average of say 2-3 years. the final value of the house and what we are looking to borrow will be roughly around 50% LTV. many thanks