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Fixer Upper Mortgage

  • 22-01-2018 9:23pm
    #1
    TonyHans
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi,
    I have been approved in principle for a mover mortgage.
    However due to the shortage of supply of houses we are now looking at fixer upper houses.
    We have identified one but is currently not habitable so will not qualify for a mortgage.
    I was speaking to a mortgage adviser today and she advised me that my only option was to go sale agreed on the house and then obtain the required planning permissions and then we could resubmit for a slf build mortgage.
    The problem is that the vendor will not wait for 3 months on the chance that I may or may not receive planning permission especially when there are 3-4 other bidders on the property.
    Are there any other options?
    Thanks for your help.


Comments

  • #2
    Bank of Ireland: Nicola
    Closed Accounts Posts: 735 ✭✭✭Bank of Ireland: Nicola


    TonyHans wrote: »
    Hi,
    I have been approved in principle for a mover mortgage.
    However due to the shortage of supply of houses we are now looking at fixer upper houses.
    We have identified one but is currently not habitable so will not qualify for a mortgage.
    I was speaking to a mortgage adviser today and she advised me that my only option was to go sale agreed on the house and then obtain the required planning permissions and then we could resubmit for a slf build mortgage.
    The problem is that the vendor will not wait for 3 months on the chance that I may or may not receive planning permission especially when there are 3-4 other bidders on the property.
    Are there any other options?
    Thanks for your help.
    Hi TonyHans, thanks for getting in touch and welcome to Boards.ie

    We cannot discuss specific financial needs here but if you'd like to PM me your details I can certainly arrange for one of our mortgage specialists to give you a call if you'd like to discuss this with them. 

    Thanks, Nicola


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