Mortgage company will not allow completionMake Text Bigger
I am in the process of buying a HMO. It’s been in the same layout for well in excess of 10 years and is fully up to regs.
I am an experienced landlord and the valuation etc. is all fine.
On the day of completion my mortgage lenders stated they wanted a confirmation email or a lawful development certificate from local council to confirm they were happy with its current layout as a HMO.
The Council said they will not send such an email and the owner must apply for a lawful development certificate which takes 8 weeks. The current owner retired and is unlikely to want to go through the hassle of applying with all needed documentation council want, i.e. all old tenancies.
The house is being purchased at a good price. It seems I will have to buy cash but don’t want to.
The owner will not allow exchange to undertake with 2 months of completion to allow us to apply to another lender or time to get the certificate.
We need to start works ASAP as we’ve got students happy to take it but work must start now to have it ready for the student calendar. So we are stuck it seems unless someone can suggest anything?
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