We have recently completed PRC repairs Bristol and Somerset.
Cornish type 1, the Clients purchased the PRC house under the Right to Buy scheme as discounts are now set at a maximum £75,000. They arranged a mortgage through the Halifax raising enough funds to pay for the purchase and the PRC repairs.
Once the PRC repairs were completed the Halifax instructed their Valuer to complete another inspection of the property. After receiving the PRC certificate the retention funds were released to pay for the PRC repair works.
PRC repairs Bristol and Somerset. A Wates PRC house, the Client already owned her property as she had taken up the Right to Buy years ago. The mortgage was with Church House Trust and the interest rate about 8%. By remortgaging and borrowing the extra funds to pay for the PRC repairs the mortgage monthly payment was less than the Church House loan as the new mortgage rate was only about 3%. If you have a mortgage on a PRC house at a high interest rate you should have a look at carrying out the PRC repairs, you may pay less each month.
Cornish houses in Bristol
Most Clients look to add french doors whilst the PRC repairs are being completed.
A lot of Clients will also have the kitchen, dining room wall removed to open up the kitchen space.