In fact, there are plenty of unusual properties that are, from a structural point of view, just fine. Mortgages for homes with unusual construction are more difficult to secure. Timber Framed: Some high-street mortgage and insurance providers view timber-framed homes as non-standard. If there is evidence of asbestos, or the building’s frame is unusual, they will want a more detailed structural survey to be carried out. © 2021 Online Mortgage Advisor. Furthermore, the brokers can arrange non-standard construction mortgages with the following lenders…. This doesn’t mean, however, that a risk-averse lender will offer you a mortgage for a non-standard construction house if it violates their criteria in some way. So if you’ve had previous problems, or live in a non-standard property, you could still qualify for a Right-to-Buy mortgage. They will offer any advice specific to you and your needs. The lender’s security is in the property itself and non-standard or non-traditional construction makes the integrity and durability of that building far less certain. For insurance business we arrange policies from a panel representative of the whole of the market. Some lenders blanket refuse to lend on certain properties that should really be fine. Our input could save you a great deal of time and money that would be wasted on valuation and application fees, as well as all the stress and hassle that comes with it. We’ll find the perfect mortgage broker for you - for free, Save time and money with an expert mortgage broker who specialises in cases like yours. Privacy Policy / Cookie Policy This is often done as part of a certified repair scheme and, depending on the property, can be very expensive. In this piece, we’re going to cover non-standard construction mortgages -how they work, the different kinds, and how to get one. As such, if there’s a mortgage out there for you. For example, thatched roofs need to be completely replaced every 30 years or so. This is because prefab property has long carried an image of being poor quality. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. More to the point, it is a common belief that prefab property is not durable or strong due to steel frame problems. Mortgages and Furlough: Expert advice on how to get a mortgage after being on furlough. Non Standard Construction Mortgage In the UK there is a huge variation of property types available, some being hundreds of years old while others were finished yesterday. If you also have bad credit, this can add another complication to a non-standard property mortgage, given that there will be fewer providers to choose from. If the place that you’re looking at is of unusual construction (or you have a strong suspicion that it is), it’s worth speaking to a mortgage advisor early into the process. Halifax Homeowner Variable Rate - for mortgages applied for after 4th January 2011. Pete has been a mortgage advisor for over 10 years, and is regularly cited in both trade and national press. Non-standard construction mortgages work in a similar way to a normal mortgage, except the lenders might see these types of properties as an increased risk, due to the fact they see them as difficult to sell, which makes them a less stable investment than a normal property. Online Mortgage Advisor, Bezant House, Bradgate Park View, Chellaston, Derby, United Kingdom, DE73 5UH, Think carefully before securing other debts against your home. If the initial survey reveals that the building might contain asbestos, or have an unusual frame, they’ll want to see a more detailed structural survey. 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