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Concrete house construction is a type of property construction classed as being non-traditional. High Street Mortgage Lenders are generally reluctant to provide mortgage funding for properties of this type. However, you may be pleased to know that specialist help is usually available!
Read on for more details of Concrete House Construction, and how properties of this type came about together with why they are classed as being of a non standard construction type. We also look at how Shire Direct can help with the provision of mortgage funding for concrete constructed homes.
Table of Contents:
Concrete house construction refers to a type of home that is considered to be of non-traditional or non-standard construction.
A non-traditional property construction, for mortgage purposes, is one that is not built of bricks or stone, and does not have a slate or tiled roof.
Concrete constructed properties are by far and away the largest category of non-traditional housing. After the second world war, the United Kingdom saw a massive increase in demand for social housing, and successive governments responded to this demand for homes by local authorities given assistance to increase their stock of council houses.
New construction methods were used, and many forms of pre-fabricated constructions were developed and applied to satisfy the increasing demand for quickly erected, and inexpensive housing stock.
A few decades later, the consequences of the revolutionary methods have come home to roost! Many of the steel-framed and concrete panelled properties have turned out to be defective housing, and their fabrications in many instances are crumbling!
High Street Mortgage Lenders are known to be hesitant on lending on properties of non-standard construction such as a concrete constructed house.
The main reason for this is the difficulties that could be encountered by the lender in the event of repossession when they will usually need to sell the property on as quickly as possible.
However, don't worry, help may well be at hand from Shire Direct as we'll discuss next.
The answer is usually yes we can, naturally subject to valuation of the property, and confirmation of the affordability of borrowing.
You see, many concrete house constructions and other non standard construction types occupy large and valuable plots, and in many instances the extent of the defectiveness can actually be contained and repaired at a viable cost.
So you'll be pleased to know that from within Shire Direct's extensive array of specialist Mortgage Lenders, we have Lenders who are happy to provide Mortgage and remortgage funding for these types of property construction.
So, as well as concrete house construction, there are also a number of other different types of non-standard property construction, such as:
It's worth knowing that from within our extensive portfolio of Mortgage Lenders, we have a whole range of specialist lenders who are happy to provide mortgage funding for the purchase or remortgage of non traditional construction properties such as those listed above!
We thought it might be helpful to list some of the more common types of property constructions for both concrete house constructions and other non-standard property constructions that we are able to arrange mortgage and remortgage facilities for.
Don't worry if you don't spot your particular home construction, as we can usually consider most different types of non-traditional property construction.
Then simply Contact Us! We'll be more than happy to discuss the available options with you. We'll carefully look at and assess your circumstances, needs, requirements and aspirations to arrive at the most appropriate and suitable solution - tailor made for you!
We are confident that you will find our attitude and outlook to be positive, friendly, professional, helpful and unjudgemental.
So call us today on Freephone 08000 282 281! Our lines are open until 10pm everyday (including Sat & Sun), and our professionally qualified Mortgage advisors will be happy to discuss your requirements, naturally without obligation! Alternatively, you can enquire online at any time, it's both quick and easy to do, and once again your enquiry is without obligation.
Well, that concludes our look at concrete house construction properties and how we may be able to help arrange mortgage or remortgage facilities for a concrete constructed home, as well as other non-traditional construction types. Hopefully you found it to be useful. Don't forget there is a wealth of mortgage related information on our website, so why not put a few minutes aside and explore the options that may be open to you, and remember we're here to help in any way we can!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Are you worried and becoming stressed because you are having problems getting a mortgage or remortgage? Worry and stress no more! Here at Shire Direct we provide tailor made mortgage solutions to suit you, and can usually help with all kinds of circumstances including...
Remember, we're here to help, and would love to hear from you!
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