Curtley-Óg
Registered User
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Hello
Has anyone experience of a lender withdrawing loan approval, specifically on grounds of fire safety?
This is my current situation. I have local authority approval in principle for a home loan. I managed to go sale agreed on a 2 bed property last January. The LA sent their clerk of works to check the property, and I believe this was also followed by a Fire safety officer. In early March I got a letter saying my loan was not being approved formally for this property due the concerns over fire safety.
I have not yet had a structural engineer survey the property. My plan had been to progress this once I got an all clear from the LA Clerk of Works report.
I have requested further clarification of the Local Authority to the specifics of the fire safety concerns (currently I have no insight whatsoever what the basis of the concerns are). Also I asked whether they were considering if the concerns can be addressed by remedial work.
It is now over a month since I submitted my appeal / request for clarification to the local authority. I do yet have any further insight what the issue is. They do seem to be considering my appeal properly and I expect a response in the coming days.
In a very best case scenario (albeit unlikely) the LA will specify the concerns and make their loan offer conditional of my structural engineers survey and demonstration I can afford the remedial work.
Note there will definitely be additional renovations needed on this property to bring it from its current BER of G up to a B. The cost of these renovations is a further unknown - again, I need the structural eng. survey done to determine the scope and outlay of these renovations.
It is extremely hard to find houses I can afford and I am very happy with the location of this property. I almost certainly will need to walk away from this purchase, but before I do I want to make sure I've left no stone unturned should there be a way to make it work.
With this in mind I would appreciate hearing experiences from buyers or sellers of lenders withdrawing loan approval due to fire safety and what lessons were drawn.
Many thanks.
Has anyone experience of a lender withdrawing loan approval, specifically on grounds of fire safety?
This is my current situation. I have local authority approval in principle for a home loan. I managed to go sale agreed on a 2 bed property last January. The LA sent their clerk of works to check the property, and I believe this was also followed by a Fire safety officer. In early March I got a letter saying my loan was not being approved formally for this property due the concerns over fire safety.
I have not yet had a structural engineer survey the property. My plan had been to progress this once I got an all clear from the LA Clerk of Works report.
I have requested further clarification of the Local Authority to the specifics of the fire safety concerns (currently I have no insight whatsoever what the basis of the concerns are). Also I asked whether they were considering if the concerns can be addressed by remedial work.
It is now over a month since I submitted my appeal / request for clarification to the local authority. I do yet have any further insight what the issue is. They do seem to be considering my appeal properly and I expect a response in the coming days.
In a very best case scenario (albeit unlikely) the LA will specify the concerns and make their loan offer conditional of my structural engineers survey and demonstration I can afford the remedial work.
Note there will definitely be additional renovations needed on this property to bring it from its current BER of G up to a B. The cost of these renovations is a further unknown - again, I need the structural eng. survey done to determine the scope and outlay of these renovations.
It is extremely hard to find houses I can afford and I am very happy with the location of this property. I almost certainly will need to walk away from this purchase, but before I do I want to make sure I've left no stone unturned should there be a way to make it work.
With this in mind I would appreciate hearing experiences from buyers or sellers of lenders withdrawing loan approval due to fire safety and what lessons were drawn.
Many thanks.