While its true that house price have come down in the past 10 or 11 months its still common to hear that people are struggling to move or buy because property prices are still to high. Non standard construction could be the answer and offer you a cheaper alternative housing solution, prices range from £60,000 – £140,000 dependent upon the location.
What is Non Standard Construction?
Without going into to much engineering or construction knowledge, non standard construction properties are those not built of standard brick and tile. Therefore most properties built of pre cast concrete and or prefabricated are classed as non standard construction. A lot of concrete and prefabricated houses were built just after the second World War as an answer to the immediate housing shortage and were only intended as temporary. Some of the well known construction types are Woolaway Bungalow, Reema and Wimpey No Fines, however, there is a big list of non standard construction houses here.
Why is it difficult to get a mortgage on a non standard construction house?
Its very true that most if not all high street mortgage lenders don’t lend on non traditional houses as they deem them unsuitable security for mortgage purposes, unless they have been completely repaired.
Enable Finance are able to offer Mortgages on Non Standard Construction.
Subject to affordability and status Enable Finance have a range of mortgage products for people wishing to buy or re-finance and non traditional house or flat. Our mortgage or remortgage products can be used for buy to let purposes, or straight forward residential living accomodation including purchases under the Right to Buy Scheme for more information please vist our non standard contruction mortgage page