Mortgages for Non Standard Construction
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Mortgages for Non Standard Construction
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- 3.89% Initial
- 5 year fixed
- 5.9% APRC
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Cashback Max £1,250Free LegalsFree Valuation
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- Lloyds Bank
- 3.92% Initial
- 5 year fixed
- 6.7% APRC
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Cashback Max £250Free LegalsFree Valuation
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- 3.92% Initial
- 5 year fixed
- 6.4% APRC
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Cashback £0Free LegalsFree Valuation
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- 3.94% Initial
- 5 year fixed
- 6.4% APRC
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Cashback £0Free LegalsFree Valuation
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- 3.97% Initial
- 5 year fixed
- 6.5% APRC
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- 3.98% Initial
- 5 year fixed
- 6% APRC
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Cashback £0Free LegalsFree Valuation
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- 3.99% Initial
- 5 year fixed
- 6.5% APRC
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Cashback £0Free LegalsFree Valuation
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- 4.00% Initial
- 5 year fixed
- 6.8% APRC
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Cashback £0Free LegalsFree Valuation
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- 4.00% Initial
- 5 year fixed
- 5.9% APRC
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Cashback £0Free LegalsFree Valuation
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- 4.00% Initial
- 2 year fixed
- 6.7% APRC
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Mortgages for Non Standard Construction
You may have difficulty obtaining a mortgage on a house with a non-standard construction.
Buildings that are classified as non-standard may make some lenders more reluctant to offer a mortgage loan than houses constructed using standard building materials and techniques.
For a mortgage lender, a non-standard construction property is one that does not have a concrete foundation, brick walls, and a pitched, tiled roof. You might have difficulty getting a standard mortgage for the following types of non-standard construction properties:
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Houses that are prefabricated.
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A flat that is located in an unusual location, such as above a commercial property or in a tower block with more than four or five floors.
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Houses made of wood or timber
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Cottages with thatch.
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Wattle and daub buildings.
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Asbestos-containing buildings.
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Roofs with flat surfaces.
Getting a mortgage for non-standard construction
Mortgage lenders will sometimes refuse to offer mortgages for non-standard construction because they fear the non-standard materials will affect resale value.
Mortgage lenders want assurance that if they need to repossess the property, they can quickly and easily sell it to recoup the money owed.
However, a non-standard construction can have several advantages. The materials used to build them can be very environmentally friendly, both in terms of the sustainability of the building materials and the sustainability of heating the property.
Non-standard construction often has a unique market appeal for prospective buyers who are looking for something a little different.
For non-standard construction, what criteria must be met?
Fortunately, there are plenty of mortgage providers who offer mortgage deals for non-standard construction properties and other types of property that are less attractive to conventional lenders.
Lenders may consider specific factors before deciding whether or not to lend to you if you apply for a mortgage for a non-standard construction. These could include:
- The state of the building that has non-standard construction – You may be more likely to get a mortgage deal on a modern or well-maintained house with non-standard construction than on a dilapidated non-standard home that requires restoration. To lend on a non-standard construction, a mortgage provider will need to conduct a comprehensive survey.
- The type of property with non-standard construction – if you want to get a mortgage against a listed building, then this could affect your mortgage application, as well as restrict what changes you can make once the property has been purchased.
To investigate your finance options call our broker team or fill in our call back form - speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464