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Architect Fees / Mortgage


Abbi
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Hi

 

Quick question - we've received a quote from an architect, which we're happy with. If we pay fees now (we haven't yet got planning permission) are we able to recover these retrospectively when we apply for a mortgage to complete the build?

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I don't think the lenders will worry about whether the fees come from your savings or your borrowings, it's effectively the same pot.  They'll just be interested in your equity, the cost of the project and your ability to pay the mortgage.

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Anyone here got a mortgage from the Ecology Building Soc? Perhaps you could explain to @Abbi how their LTV and stage payments work.

 

LTV upto 80%?  When you get say 25% of the way through the build do they send a valuer and pay you 80% of 25%?

 

 

 

 

 

 

 

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