Topic 13 Assessing the Property

Question 1

The below is what in relation to a lender will require when assessing whether a property is suitable as security?

• Address or plot number & location
• Purchase Price
• Type of property
• Tenure of property

Answer 1

Information a lender would require

Question 2

The below is what in relation to a lender will require when assessing whether a property is suitable as security?

• Number & type of rooms and accommodation
• Whether vacant possession is available
• Alterations proposed
• Proposed use of property

Answer 2

Information a lender would require

Question 3

The below is what in relation to a lender will require when assessing whether a property is suitable as security?

• Name of builder & whether builder is a member of National House Building Control (NHBC)
• Inspection arrangements for self-builds
• Expected rental amount (BTL)

Answer 3

Information a lender would require

Question 4

Whether a builder is a member of the National House Building Control (NHBC) applies to what type of property?

Answer 4

New builds & properties less than 10 years old

Question 5

If a builder is not a member of the National House Building Control (NHBC). What might be acceptable to a lender at each stage?

Answer 5

• Appropriate structural warranty inspector
• Qualified building professional with appropriate insurance cover