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Bank loan for refurbishment of house

ciarang85 · 2018-02-06 11:36:40

Long story short, last year we bought a house which needed a bit of work done to it, walls knocked, concrete floor, electrics, plumbing etc.... so we got a small loan put onto the mortgage just to cover electrics & plumbing, now the problem is that it took months for the work to actually start and the bank are sending out…

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06-02-2018 12:36pm

#1

ciarang85

Registered Users Posts: 256 ✭✭

Join Date: September 2011

Posts: 242

Long story short, last year we bought a house which needed a bit of work done to it, walls knocked, concrete floor, electrics, plumbing etc.... so we got a small loan put onto the mortgage just to cover electrics & plumbing, now the problem is that it took months for the work to actually start and the bank are sending out the valuer at the end of this month so they can release the funds for the small loan we took out. The electrics & plumbing are both first fixed and we are at the plastering stage at the minute, does anybody know do we need to be fully second fixed for them to value the house? or can they value on first fix? Also would the bank use the original valuer when we bought the house to value it?

Thanks

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