A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING Vivian Swift

A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

Vivian Swift 7 Molesworth Street Wadebridge Cornwall PL 27 7 DA 01208 815411 vswift@mycontinuum. co. uk A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

Mundic Block Flood Re EPC A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

Mundic Block • Pre 1960’s • Properties can be mortgaged • Mundic tests usually encouraged and enforced by mortgage valuer • Classifications • • Class A – sound concrete, satisfactory condition Class A/B – concrete considered sound subject to adequate protection & maintenance Class B – concrete contains more than 30% of possible problem aggregates Class C – unsound & repair needed A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

Mundic Block • After September 2015: • Class A 1 formerly Class A • Class A 2, formerly class A/B • Class A 3, new classification • The development of a stage 3 expansion testing would have formerly been Class A/B • Class B • Class C A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

Mundic Block • Lenders • Halifax – satisfactory report. • Barclays – Pre 1950, mandatory test required. Post 1950, valuer’s comments & report if recommended. Will lend on A 1, A 2 & A 3, but not B & C. • Nationwide - Will lend on A 1, A 2 & A 3, but not B & C. • Nat. West – if Mundic present, straight decline. Appeal to Underwriters. A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

EPC • No official guidance or lending criteria change from the main lenders. • Valuer comments relied upon. • Green Deal • Obtain to improve energy efficiency i. e. solid wall insulation, boilers, double glazing. • Repaid with energy savings. • Property owns the loan, not the occupier. • If property sold, the loan passes to the new owner. • Small take up sinception. A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

EPC • Green Deal must be highlighted by the vendor to the buyer. • Can lead to re-negotiation of the price. • May 2014 all ERC’s removed. • Early repayment can ease conveyance process. A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

EPC • Lenders: • • • Nationwide – If Balance outstanding is more than £ 10, 000 Halifax – No evidence required Santander – No evidence required Barclays – Full details disclosed. Natwest – Full details disclosed. Earl Shilton BS – Full details disclosed. A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

Flood Re • Is flood history evident ? • Reliant on valuer’s comments. • No publicised criteria or guidance. • Increase in the number of insurers my drive mortgage lending. A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

Vivian Swift 7 Molesworth Street Wadebridge Cornwall PL 27 7 DA 01208 815411 vswift@mycontinuum. co. uk A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING