Can you get a mortgage on non standard construction?

Can you get a mortgage on non standard construction? Is it possible to get a mortgage on a non-standard construction property? In a word: yes! Specialist lenders are available who accommodate non-standard construction mortgages. By categorising construction types as ‘standard’ and ‘non-standard’, lenders can mitigate risk.

What is a house of non standard construction? Non-standard construction properties. A non-standard construction house is built from materials that do not conform to the ‘standard’ definition. Standard houses have brick or stone walls with a roof made of slate or tile. A non-standard construction is therefore anything that falls outside of this.

Can you change a non standard construction house? You can switch the property from non standard construction to standard construction. One option to get around the non standard construction problem is to just replace the non standard part of the home. This is easier for some parts of the house than others.

Why can’t you get a mortgage on a concrete house? Concrete build mortgages can be more difficult to obtain. This is because concrete construction is classified as a ‘non-standard’ build type, and any property falling under this category may be considered higher risk, and therefore harder to insure and resell.

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Can you get a mortgage on non standard construction? – Related Questions

Can you mortgage a stone built house?

Providers may have differing ideas of what a non-standard construction is, with some being happy to include stone, slate or flint construction as standard while others will not. While there is less choice than for a standard mortgage, there are still many lenders who will be happy to consider your application.

How do I know if my house is non standard construction?

Your house will be considered a non standard construction if it is built of anything other than a traditional construction of bricks and mortar (or stone) with a slate or tiled roof. i.e. if your house incorporates frames, modular parts, cob etc then it will be considered non-standard construction.

What is the problem with non standard construction?

It’s more difficult for an insurance underwriter to assess the risk. Consequently, it can be difficult for you to get insurance on non-standard properties. It therefore also becomes harder to secure a mortgage to buy such a property and, in turn, this can make it difficult to sell on.

Why is it difficult to get a mortgage on a non standard construction?

Specialist lenders are available who accommodate non-standard construction mortgages. By categorising construction types as ‘standard’ and ‘non-standard’, lenders can mitigate risk. Generally speaking, non-standard properties are considered higher risk, which makes them more difficult to finance.

Do Halifax lend on steel framed houses?

Since then however, the Halifax has approved huge numbers of Steel Framed property mortgages, many of these being BISF Houses. The majority of sales going through Halifax do so with little or no problems, providing the surveyor is familiar with the property type and raises no objections.

What is the problem with steel framed homes?

Steel Framed Construction is Not Energy Efficient. When compared to most other framing products, steel framing is not energy efficient. In fact, wood has nearly four times the thermal resistance of steel. The reason steel frame buildings are not energy efficient is due to thermal bridging.

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Are concrete houses hard to sell?

Concrete construction houses are typically harder to sell than brick properties as they have more defects and less structural integrity.

What’s wrong with concrete houses?

The concrete can be prone to defects, leading to structural issues later on. It is relatively easy for prospective home buyers to spot issues of structural weakness or mould and damp during a viewing, however, issues regarding non-standard construction are often difficult to note.

Are concrete homes good?

Concrete house construction provides homeowners with many benefits, including energy-efficiency, durability, and low-maintenance. Also, concrete homes create a safe, comfortable, and healthy environment, along with contributing positively to the environment.

Are timber frame houses worth less?

They’re quick and relatively inexpensive to build. And as well as being cost-effective, timber frame buildings are also highly versatile, as they can be clad in almost any building material. Building a timber frame house will result in far lower CO2 emissions than a traditional brick build.

Are cob houses Mortgageable?

Cob houses are generally acceptable to most mortgage companies, but it is worth checking with a financial advisor before making a mortgage application. Like many other older building methods, thatched roofs offer excellent thermal properties, as well as looking particularly attractive on the top of an old cottage.

How do I know if my house is frame or block?

A concrete block wall will be about 10-inches thick, which is wider than any of the other types. The one absolutely certain way to determine the wall structure type is to look at the top of the wall in the attic, which your home inspector will do as part of the inspection.

Do estate agents have to disclose non-standard construction?

The fact is most Estate Agents will not tell you that you are buying a non-traditionally built property as most do not know. The only way to tell is to instruct an RICS Registered Surveyor to identify defects as well as indicate the construction type within the survey.

What is a standard house?

Currently it houses a retail store on the ground floor, and the city’s economic development offices.

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What is considered standard construction?

When Insurers refer to standard construction in respect of home buildings, they usually mean property that is built of brick, stone or concrete and roofed with slate, tiles, metal or concrete. The vast majority of flat roofs are constructed of felt on timber.

Are timber framed houses standard construction?

Because timber frame is classed as non-standard construction, when it is known that a building is timber framed, you need to get a Building Survey rather than a HomeBuyers Report because they suit the former survey’s scope rather than the latter’s; Building Surveys cost more than HomeBuyers Reports.

How much can I borrow on a self build mortgage?

Self-build Mortgage

Borrow up to 80% of the property’s value on a repayment basis, or up to 65% interest-only (or part repayment and part interest-only). All self-build projects must show they will achieve a minimum SAP rating of 88.

Why is it hard to get a mortgage on a steel framed house?

What is the problem with steel frame homes? The main issue is around build qualify as many types of steel framework can develop structural issues. This means that steel frame properties can be more difficult to sell and insure, and are therefore mortgage difficult to get a mortgage on.

Are SIPs Mortgageable?

Yes. SIP houses are fully mortgageable. SIPs build systems are increasingly common in the UK construction industry and are recognised by major warranty providers and building control.

How much can I borrow leasehold?

Loan to value on leasehold mortgages

If it’s a new build flat or house, it could be even lower. For example, a provider might offer to lend 90% on a freehold property, but only 85% on a leasehold flat. If the flat’s a new build, they might only lend a maximum LTV of 75%.

How long will a steel frame house last?

Steel buildings face fewer issues with deterioration and corrosion than concrete or wood, and can out live other structures when properly built and maintained. Most steel buildings last anywhere from 50 to 100 years.

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