Financing A Renovation Project (And who's had experience of connecting to mains sewer?)
Posted 17 February 2015 - 07:43 AM
Grade 2 listed, so lots of consents required.
Not currently habitable.
OK, those challenges aren't too much of a problem I can do much of the work myself and organize trades for the bits I can't.
My biggest challenge is getting the property in the first place.
Has anyone had any experience of bridging loans to secure a property at Auction and can anyone offer any friendly advice on the best tactic or barriers to moving the development back onto a mortgage?
Posted 17 February 2015 - 09:20 AM
Posted 17 February 2015 - 06:00 PM
Edited by SteamyTea, 17 February 2015 - 06:12 PM.
Posted 17 February 2015 - 08:40 PM
Posted 18 February 2015 - 07:57 AM
Hi SteamyTea, Now you got me worried. Are there trade problems in Cornwall? First trade would be a roofer, then electrician. Basic plumbing and carpentry I can do myself. And maybe if I read up and under guidance of a sparky I might have a go at first fix electrics. Why pay them to roll out reels of cable.
Posted 18 February 2015 - 04:58 PM
Where in Cornwall is this place, it is a long country and quite wide at one end.
Posted 18 February 2015 - 08:05 PM
Posted 18 February 2015 - 08:30 PM
Any more detail and it'd be classed as advertising on here, as he's my brother.................
A web search including the terms "Harris" "garden services" and "Simon" should get close.................... The post code TR16 6PS might help.....................
Posted 19 February 2015 - 04:56 PM
Posted 03 March 2015 - 06:35 AM
Currently the house has a septic tank, which if functional will provide a reasonable short term solution for handling of foul waste, however a mains sewer runs fairly close to the site.
Does anyone have any experience of cost when it comes to connecting to mains sewers which will probably result in a temporary road closure.?
Posted 04 March 2015 - 09:01 AM
Try the Eco!ogy Building Society.
Suspect you have a hell of a lot of background checking still to do.
Plan B could be to install enough kitchen and bathroom within the 28 days you get to pony up the full amount and arrange a rapid mortgage to be available before the period is up, and avoid the bridging finance. If the mortgage co have done their checks on you first that might save you the bridging costs. That assumes that you can have possession.
Edited by ferdinand, 04 March 2015 - 09:12 AM.
Posted 04 March 2015 - 05:17 PM
I suspect that the vendor will not allow me in before completion which the auctioneer tells me must be completed in 20 days, unless I misunderstood something, so there will be a bit of pain with regards to bridging finance payments if we secure the property and await the sale of our current house. (Didn't want to sell our current house but it works out better with regards to the mortgages..)
As far as background checking goes, I have a pile of documents from the auctioneer which I am still wading through and cross checking against public records.
Can't find if there is town gas near the site and not sure how to find out short of walking around the neighbour hood looking for gas meters. So I might have to look at a pellet or wood fired boiler. The building is listed so I can't install any eco-bling. At least not on the existing structure.
Edited by sketch3d, 04 March 2015 - 05:18 PM.
Posted 08 March 2015 - 07:47 AM
- Verandah and an amazing orangery at the front held together with paint and the bits the dry rot and wood worm left behind.
- Front bay windows sagging down, held up by the glass below.
- I knew there were roof problems, but, the entire roof needs new tiles. Being listed means at least a year long battle with the conservation officer agreeing materials and reconstruction methods.
- Internally, the current owner never did a thing. Great many original fittings including old wiring, a buzzing consumer unit and bakerlite switches, some of which have feature exposed wiring. Although I did anticipate a complete rewire.
- The house internally was very damp, mostly due to having been shut up tight and with the leaking roof didn't stand a chance. Much of the plaster was pealing off the walls, even in areas not affected by the roof leaks. Black mould was the highlight of the internal inspection.
- Going down into the cellar and the decision to walk away was made. Significant dry rot working its way across the ground floor floor joists. Looked like it was covered in cotton wool it was that bad.
- Outside the very much overgrown orchard and formal lawns had the potential to be amazing. However the 30mph sign up hill of the site was only there as a suggested minimum speed for the trucks taking a short cut through the town. So what should have been a quiet location had one boundary against a very noisy road.
Unfortunately for such as beautiful building it is beyond economical repair. Being listed it can't be knocked down or majorly altered. So its fate in my mind will be that it fails to sell at auction or if it does sell it will be to an unsuspecting buyer who doesn't understand the implications of owning a listed building or the £150k+ repair bills just to make it habitable.
So the hunt for the ideal renovation project in Cornwall or Devon goes on.
Posted 08 March 2015 - 07:59 AM