1 A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

2 Vivian Swift 7 Molesworth Street Wadebridge Cornwall PL27 7DA A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

3 Mundic Block Flood Re EPCA PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

4 Mundic Block Pre 1960’s Properties can be mortgagedMundic 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

5 Mundic Block After September 2015: Class A1 formerly Class AClass A2, formerly class A/B Class A3, 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

6 Mundic Block Lenders Halifax – satisfactory report.Barclays – Pre 1950, mandatory test required. Post 1950, valuer’s comments & report if recommended. Will lend on A1, A2 & A3, but not B & C. Nationwide - Will lend on A1, A2 & A3, but not B & C. NatWest – if Mundic present, straight decline. Appeal to Underwriters. A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

7 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 since inception. A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING

8 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

9 EPC Lenders: Nationwide – If Balance outstanding is more than £10,000Halifax – 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

10 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

11 Vivian Swift 7 Molesworth Street Wadebridge Cornwall PL27 7DA A PARTNERSHIP IN LIFETIME FINANCIAL PLANNING