First time HMO project

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A
Alex2015
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Hi everybody,

We have just recently purchased a house in Northamptonshire that we are planning to have converted into an HMO.
As this is the first time we are dealing with HMOs and such a large renovation project, we are wondering if someone who has previous HMO project experience could help us with their expert advice on how to approach such a project.

1) What would you recommend as the sequence/order of work?
(we want to make sure things are done in the proper way and that all regulations and laws are complied with/ change of use application?. Everything needs refurbishing in this case, including electrics, gas, flooring, walls, kitchen, bathrooms, windows.. etc.)

2) We have bought the place on a buy-to-let mortgage and currently the place is empty because we are in the process of choosing a builder, would we need to change the mortgage at some point, if yes into what and when?

3) Is there anything we need to consider re electricity or anything else we should 'switch off' or be weary of so we don't get some kind of unexpected bill or do we need to de-register anything?

4) Are there any specifics we should include into the contract with the builder? So far we have the following:
- removal of all waste
- no cash/ deposit to be paid upfront
- keep final payment until last stage of project has been completed to satisfactory standard
- agree compensation cost for every week that passes after agreed completion date
- clarify if prices given are estimates or fixed quote

You may notice we are totally new to this topic and would appreciate any help with regards to this topic!!!

Thanks in advance!!

Alex




19/12/2015 13:55

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