Hi,
I had an offer accepted on a flat a few weeks ago. It’s a leasehold so a management company is responsible for external maintenance and each freeholder is responsible for upkeep of their property internally. When the property was valued some issues were noted and I was asked to get a structural engineers report which I’ve done. The report has recommended that some work be done to the external building - We haven’t got quotes but I believe this is likely to cost a few thousand pounds.
I have a few questions here;
- My lender hasn’t responded to the report yet so I don’t yet know if they’ll refuse a mortgage unless the work is completed. Do lenders generally refuse to lend without works completed?
- Whose responsibility is it to pay for the works, presumably it should be the freeholder but if they refuse, I guess me/the current owner could pay to get it sorted?
Any advice on situations like this is welcomed!