Would I get a mortgage on this?

[d-mac]

Hi,

My girlfriend and I are in the first time buyer scenario, we've seen a property we really like but it needs quite a bit of work done: replace double-glazing, re-wire, new kitchen, new bathroom, painting, etc.

Now we'd be willing to do all but the windows and re-wire ourselves but I'm wondering if a lender would give a mortgage on a property like this to a first-time buyer.

Any opinions?

[Ethel]

Depends on how much it is worth and the amount of mortgage you want.

Everything you have listed is really maintenance and cosmetic. Mortgage lenders don't baulk at that. Subsidence, rising damp, rot and serious problems like that may make getting a mortgage difficult.

As long as the shell is sound and safe and the price right you should be ok.

[POLLIANNA]

When we bought our flat a few years ago, it needed new bathroom, kitchen and windows. That didn't come into whether we cold morgage it or not. They are more interested in where as ethel said damp, subsiding but the survey will tell them that. As long as the bathroom and kitchen are workable when you move in, it will be fine. Good luck. Its a big step but its really exciting and i am so glad i took the step.

[Jibergrt]

Our first house was like this and if there is anything the mortgage company want you to do (re wiring might be one) they will make a retention. i.e. they will say 'the house is worth 100k, the rewiring will cost 2k so we will give you 98k and the rest when it is done'. Well that was what they did with us (on more than one occasion - we tended to buy crappy houses!!)