Completion certificate requirements for mortgage

[SBMS]

Hi all

 

With rising interest rates I am trying to decide at what point to pull the trigger on booking a mortgage rate for our remortgage off our self build mortgage. We can secure the rate for 6 months, but would probably need it valued at the 4 month point to give time for solicitors etc to complete. We’re just about up to wall plate on the build. 
 

Obviously a key thing the mortgage provider would need is the completion certificate for completion. I have two questions, if anyone can help:

 

1. what is required to get a completion certificate?

2. When the mortgage company send their valuer, does the completion certificate need to be in hand? Obviously we wouldn’t want it valued too early anyway as we need to get the right figure for the mortgage but I wondered if the valuer needs it ostensibly completed for valuation purposes too?

 

Cheers

[Conor]

We're going through this. Our architect says each lender is different, and had recomenmded that we waith fro them to request the documents, then he'll draft them up to match what they are requesting. We've had our valuation and signed the agreement... The documents will be requested once the solicitors get stuck in.

[SBMS]

1 hour ago, Conor said:

We're going through this. Our architect says each lender is different, and had recomenmded that we waith fro them to request the documents, then he'll draft them up to match what they are requesting. We've had our valuation and signed the agreement... The documents will be requested once the solicitors get stuck in.

Thanks Conor. So your valuer didn’t want to see any completion certificates? How complete was your build when they valued?

[Conor]

1 hour ago, SBMS said:

Thanks Conor. So your valuer didn’t want to see any completion certificates? How complete was your build when they valued?

Nope, just building control completion cert. That's essential.

[SBMS]

27 minutes ago, Conor said:

Nope, just building control completion cert. That's essential.

Thanks. What stage does your build need to be at to have the building control completion cert?

[Conor]

6 minutes ago, SBMS said:

Thanks. What stage does your build need to be at to have the building control completion cert?

You need to be compliant with all the relevant parts and have BC inspect and be happy. Big things like your final SAP, airtightness test, working smoke alarms, level access at main entrance, working accessible bathroom, fall / edge protection and handrails at stairs and landings, relelvant certs for heating systems etc. 

 

We switched our focus a few months ago to just doing jobs needed for BC signoff. So our place still looks like a building site but has a nice paved ramp and landing to the front door.

 

When the mortgage comes through we can then finish off the remaining bathrooms, balconies, landscaping etc

[SBMS]

4 hours ago, Conor said:

You need to be compliant with all the relevant parts and have BC inspect and be happy. Big things like your final SAP, airtightness test, working smoke alarms, level access at main entrance, working accessible bathroom, fall / edge protection and handrails at stairs and landings, relelvant certs for heating systems etc. 

 

We switched our focus a few months ago to just doing jobs needed for BC signoff. So our place still looks like a building site but has a nice paved ramp and landing to the front door.

 

When the mortgage comes through we can then finish off the remaining bathrooms, balconies, landscaping etc

I get you. Do you think its current state and not finishing it impacted the valuation much? We are thinking of a similar approach in order to get mortgage sorted asap?

[ProDave]

Don't most lenders want a 10 year structural warranty or at least an architects certificate? 

[SBMS]

27 minutes ago, ProDave said:

Don't most lenders want a 10 year structural warranty or at least an architects certificate? 

Yes I think you’re right. With ours we have combined structural warranty and building control so once building control completion certificate is issued our warranty is too. Don’t know it works for those where they are not combined. 

[Conor]

3 hours ago, ProDave said:

Don't most lenders want a 10 year structural warranty or at least an architects certificate? 

Our broker found several that didn't, most of the rest require "architect supervised". For others the requirements were only 2 years, not 10.