Engineer sign off required on cash renovation?

chughesie

Hi,
We’re completing cash renovations at the minute and our fixed term mortgage is due to expire in 18 months. When we go to renew or mortgage elsewhere, is there a requirement from the bank for engineer sign off on the renovations?

Our current mortgage provider has no knowledge of the renovations or anything at present-not that they need to obv. We will be revaluing upon completion in the hope of getting a better LTV rate.

Any advice appreciated.
Thanks.

listermint

chughesie wrote: »

Hi,
We’re completing cash renovations at the minute and our fixed term mortgage is due to expire in 18 months. When we go to renew or mortgage elsewhere, is there a requirement from the bank for engineer sign off on the renovations?

Our current mortgage provider has no knowledge of the renovations or anything at present-not that they need to obv. We will be revaluing upon completion in the hope of getting a better LTV rate.

Any advice appreciated.
Thanks.

The bank will want the revaluation done by their preferred valuer that's all.

Penn

chughesie wrote: »

Hi,
We’re completing cash renovations at the minute and our fixed term mortgage is due to expire in 18 months. When we go to renew or mortgage elsewhere, is there a requirement from the bank for engineer sign off on the renovations?

Our current mortgage provider has no knowledge of the renovations or anything at present-not that they need to obv. We will be revaluing upon completion in the hope of getting a better LTV rate.

Any advice appreciated.
Thanks.

Depends on the extent of the renovations. If the renovations affect planning or building regulations, it's worth having an engineer or other professional sign off on the works. The bank may not require it, but you'll need it if selling the property in the future (and it's something which is almost impossible to do after-the-fact), otherwise it could stall/affect the sale.

chughesie

Penn wrote: »

Depends on the extent of the renovations. If the renovations affect planning or building regulations, it's worth having an engineer or other professional sign off on the works. The bank may not require it, but you'll need it if selling the property in the future (and it's something which is almost impossible to do after-the-fact), otherwise it could stall/affect the sale.

That was my next question. Fair enough, we won’t require anything for mortgage renewal, but in the case of selling, we would definitely need sign off. Do engineers do retrospective sign off at all or is that just a no-no for them as might leave them vulnerable?

Thanks

phormium

Too late now I suppose if they are already practically completed but if there was any structural work I would always get an engineer. I did a kitchen extension recently, didn't need planning or mortgage but got an engineer to do a few visits and give me the required letter on completion re regs/planning etc. Well worth the 500 euro it cost me if I am selling especially as there was a structural element to the work.

Having said that I built on a sunroom years ago and never knew one should get sign off so that bit of the house doesn't have it but the engineer said it would be easy enough to give an opinion on that at a later date if needed, I did get planning for it and it's pretty standalone so no impact structurally on original house. It often has to be done when selling and depending on the extent of the works it can be simple or complicated.

I noticed with my extension that the builder took loads of photos of every stage so he could show the engineer which cut down on the number of visits obviously and timing wise made it easier as they were not held up waiting for an inspection.

Penn

chughesie wrote: »

That was my next question. Fair enough, we won’t require anything for mortgage renewal, but in the case of selling, we would definitely need sign off. Do engineers do retrospective sign off at all or is that just a no-no for them as might leave them vulnerable?

Thanks

Depends on the works undertaken. They may be able to sign it off with caveats that it's based on a visual inspection only after the works were already complete. Some buyers' solicitors/banks may accept it, some won't. Again, depends on the level of works done.

mickdw

A new bank may well require an up to date compliance cert. If you have done works that affect planning / building regs, you will meed sihn off and in any event should have that for your own sake.
Doing any kind of major works without professional input is foolish.

Bonzo Delaney

Regardless of whether the job is paid for in cash or goats thats the contractors involved business entirely with revenue alone.
It's the home owners own responsibility whether they engage an engineer or not.
Not having any major structural works signed off for compliance. Could affect future financial issues with the house
Sale , remortgage for example.