Unique Properties Buying A Church

Date Published:

23/05/2008

Sources Of Finance & Help

Buying a church can be a surpirsingly expensive process, so it is essential that you plan your finances carefully.

Once you've had the project costed up, allow a minimum of 20% extra as a contingency fund, as, however carefully you plan, there are always unforeseen problems and changes. Get a local estate agent to estimate the value of the church after conversion- if this figure is less than the combined total of the purchase price and work, the project won't be cost effective and you might change your mind about going ahead.

An increasing number of mortgage companies will lend on renovation projects, but you won't get a 100%mortgage, nor will the entire advance be given upfront. An initial loan will enable you to purchase the church, then the remainder will be released in tranches or stages as various parts of the job are finished. Try the Norwich & Peterborough Building Society and Buildstore, who specialise in this area.

Where To Go For Help

English Heritage www.english-heritage.org.uk
Federation of Master Builders www.fmb.org.uk
Guild of Master Craftsmen www.thegmcgroup.com
Jackson-Stops & Staff www.jackson-stops.co.uk
Royal Institution of Chartered Surveyors www.rics.org
Royal Institute of British Architects www.riba.org
Scottish Redundant Churches Trust www.srct.org.uk
Society for the Protection of Ancient Buildings www.spab.org.uk

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