Do you fall into any of the below situations ?
Mortgages for Wimpey No Fines properties are concrete constructions, using no fines concrete, the outer structure of the house is cast in situ. Wimpey, no fines/Easiform are one of the most popular of the non-traditional construction build types used in the UK.
No-fines concrete is obtained by eliminating the fine material sand, from the concrete mix. The single-sized coarse aggregates are surrounded and held together by a thin layer of cement paste giving strength of concrete. The advantages of this type of concrete are: Lower density.
These properties can suffer from poor insulation with the houses hard to heat, but with the installation of the external walls, it will see them improve their heat loss, which will reduce your heating costs.
We have a small number of high street lenders we work with for this property type as well as specialist lenders.
When it comes to getting a mortgages for concrete build properties or other non-standard property, every lender will have a different criteria which can change at any given moment If their eligibility criteria deems the property as unreliable security for the requested loan amount, it will prove difficult to be approved.
If you are approved, there can be specialist condition due to the risk to the lender, such as a larger deposit or a higher interest rate.
For non-standard constructions, lenders’ main concerns are surround the structural integrity of the property throughout the period, as well as the risk of future problems if you are forced to resell. Lenders will focus on the ‘sellability’ of the property in event that the property is repossessed.
These elements can make difficult to get a mortgage on a concrete construction property, however there are specialist lenders who deal with non-standard construction mortgage applications every day, includig one or two high steet lenders, can we can recommend for you.
Mortgage Chain are able to source mortgages for timber frame houses. We have access to high street banks, building societies and broker only lenders. some of which lend on timber framed buildings.
What is Timber Frame Construction?
A high number modern houses are timber framed as they are quicker to erect and importantly they are cheaper to manufacture. There are some very affordable modern timber framed kit houses that can be ordered delivered and erected within a few days.
Most timber frame properties will have an outer ‘skin’ of brick or concrete cladding and therefore the timber frame ican be hidden.
The issue some mortgage lenders have with timber framed houses is that they are classed as ‘non-standard construction properties’. Again as with most mortgages for non standard property types, the issue lenders have with these types of properties is the resale-ability should a repossession occur. A mortgage lender needs to assess a property for risk in the same way they assess an individual.
Timber framed houses are now much more common and Mortgage Chain are able to introduce you to lenders that will lend on nonstandard construction property including timber framed houses.
Timber frame properties are acceptable for mortgage purposes, except where the cavity between the frame and the cladding has been retrospectively filled with an insulation material.
Older Softwood Timber Framed Houses – Older softwood timber framed constructions or timber constructions without a masonry external cladding – e.g. mid-war bungalows or thin walled local authority timber framed houses, Colt or Guildway types will be considered on the individual merit of the property.
Modern Softwood Timber Framed Houses and Flats Built since 1965 – The external cladding to the timber frame must be either brick, reconstituted stone or rendered block work.
Hardwood Timber Framed Period Houses -These will usually date from 1300 to 1800 and are built from substantially sized framing members such as oak or elm with the sections between the frame in filled with brick or wattle and daub.
Softwood Timber Framed Houses of Period Design and Character -These can be considered where the valuer is able to state that a good resale market exists for the property and that the property is in satisfactory condition.
Note: All timber framed properties that do not have a brick or “block and rendered” outer skin are not acceptable (including Swedish timber)
My first house was actually a pebble dash house, in Turners Close, Ongar! So this is a property type close to my heart. Initially they can be a little bit of an eye sour, if not painted, but can generally be hiding a bargain property once you see inside.
Mortgages on pebble dash houses are easier to obtain when compared to other non standard construction properties. Houses with rendered or pebbledash elevations can be tricky to identify. One cannot assume that a house which appears to be built in rendered brick or stone is so constructed. A number of types of concrete panel houses built by local authorities after the last war were finished with rendered elevations and plastered inside and can easily be mistaken for brick construction.
Identification will often be possible by checking the thickness of the walls. A solid brick wall plastered internally and pebbledashed externally will have an overall thickness of about 250-260mm. A pre-cast concrete panel wall will typically be about 200mm thick including plaster and render so we know it cannot be brick. Further confirmation of the type of construction can usually be seen in the loft.
It is important to flag up any unusual construction issues at an early stage in the mortgage application process and check the prospective lender’s policies if the property is non-standard. This may avoid wasted survey fees if the property is declined. n
Mortgages for Laing Easi-Form properties can be tricky to source. One of a range of house types that are considered as “non-traditional construction” and which are generally erected immediately, post the first world war and up to circa 1960s. It was a housing solution developed by John Laing, the well-known contracting firm.
They were intended to be cutting edge, cost effective to build, fast to develop and to meet the nations urgent need for housing. The property type was taken on by Local Authorities and other providers of social housing.
Well known styles and trade names, amongst others, include:
- Laing Easi-Form,
The issue lenders can have, is that some of the property types listed above can often be poorly built, use poor quality concrete and later on requiref serious structural attention.
The Laing Easi-Form is generally accepted as one of the better types and is not designated as defective under the Housing Act. It is suitable for mortgage lending with a number of mortgage lenders that we can ntroduce you to.
Eltham in particular is a common location for this property type, where there is a fairly sizeable estate of two storey terraced and semi-detached Easi-Forms, all of which have never presented a problem for Mortgage Chain in terms of finding a suitable lender.in Croydon and Kent have siliar Estates and is widespread across London and the rest of the country.