Could you renovate a wreck?

Turning a derelict property into a home may seem daunting, but you'd be surprised at what
a little time, money and know-how can achieve. Here's what you need to know to get started

Step 1 Find a property
• Try an estate agent. It won't be displayed in the window, but many agents will have semi-derelict properties on their books.
• Search the web. www.pickupaproperty.com has listings of over 20,000 properties to renovate throughout the UK, while on the Save Britain's Heritage (SAVE) website, www.savebritainsheritage.org, is a list of properties of historic interest across England and Wales that are at risk of being lost.
• Go to an auction. Most neglected properties are sold by auction. Look in your phone book for property auction houses locally or try Allsop (020-7494 3686).
• Ask your local authority. Your council may be able to give you a list of empty properties in your area. Some authorities also run 'homesteading' schemes, in which they sell properties for a nominal sum.
• Contact SPAB. The Society for the Protection of Ancient Buildings (020-7377 1644; www.spab.org.uk) compiles a list of derelict buildings for sale.
• Look for a plot. Many plots suitable for self-build projects already have a property on them, which is usually ripe for renovation. Look at the National Building Plot Register on www.buildstore.co.uk or call 0870-870 9991 for more information.

Step 2 Who owns it?
If you're interested in an empty property that's not up for sale, you'll need to find out who it belongs to. Ask the neighbours or local shopkeepers if they know. If you don't have any luck this way, then contact the Land Registry (020-7917 8888; www.landreg.gov.uk). For around £6, staff will do a search on the property. If the land is unregistered, try asking the local authority – it may have some information on empty homes in the district.

Step 3 Get permission
Find out if your plans are feasible – if you can't get planning permission for the changes you have in mind, the whole project could grind to a halt. Call the local authority's planning office for what's known as a 'pre-enquiry'. You can do this even before you own the house and, free of charge, the office will issue you an indication of whether planning permission is likely to be granted.

Step 4 Sort the cash
• Pick the right mortgage. Lenders are often reluctant to lend on this kind of property because, in most cases, the resale value at the start is less than what you'd need to borrow. However, companies like the Ecology Building Society (0845-674 5566), The Co-operative Bank (0845-721 2212) and BuildStore (0870-870 9991) can help.
• Apply for a grant. Local authority grants are available to people who want to regenerate empty properties. However, these usually require you to convert the property, then lease it to the local authority for a fixed period, so they can sublet it to council tenants. If the building has special historical significance, you could apply for a grant from a relevant organisation, such as English Heritage (0870-333 1181; www.english-heritage.org.uk).
• Get a tax break. If your wreck has been standing empty for three years or more, the materials and labour are only liable for 5% VAT. If the house has been empty for 10 years, they're tax-free.

Step 5 Start renovating
• Don't scrimp. You may try to save money by not seeking advice from damp or structural specialists, but the price of their surveys will be small in comparison to the costs of remedial work later if something is overlooked.
• Get plenty of quotes. And be specific about what should be included in the job so there are no unexpected extras later.
• Draw up a contract. It's important to put all the details in writing, to protect yourself. Buy a copy of an industry standard contract from the Building Centre (020-7692 4000).
• Have a 15% contingency fund. Just in case there are any extra costs and delays.

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