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Non Standard Construction Mortgages are mortgage facilities available for properties deemed to be of a 'Non-Standard Construction'.
Below, we delve deeper into Non Standard Construction Mortgages, and what exactly constitutes a property of Non Standard Construction, and how Shire Direct may be able to help with the provision of mortgage facilities if you require mortgage funding on a property of Non Standard Construction.
Table of Contents:
So, what is Non Standard Construction and how might a property be classed to be of Non Standard Construction? Well, its probably a good idea to explain both Standard Construction and Non Standard Construction properties...
So, in order to clarify non-standard constructions, perhaps we should first examine what are considered to be standard or traditionally constructed properties. These are usually defined as being built of:
In general terms for mortgage purposes, a property is said to be of non-standard construction if it is not built of brick or stone, and doesn't have a tiled or slated roof, such as Concrete House Constructions, PRC Houses (Precast Reinforced Constructions), and Timber-Framed properties.
Well, Non Standard Construction Mortgages are a type of mortgage for those with properties that are classed to be of a Non Standard Construction, and we'll go into more detail on that next.
So why is it so difficult to get a mortgage for a property of Non Standard Construction?
Many High Street Mortgage Lenders are reluctant to provide mortgage facilities for properties of a Non Standard Construction type mainly because of the difficulties that they may face should house repossession ever occur, where the Mortgage Lender will typically need to sell the property as quickly as possible.
We're pleased to say, yes we can often help with Non Standard Construction Mortgages if you've already encountered problems on the High Street!
Mortgage and Remortgage funding is readily available from our specialist mortgage lenders, naturally subject to valuation of the property and confirmation of the affordability of borrowing.
Many properties that are classed as being of Non Standard Construction often sit on large and valuable plots of land, and on many occasions the extent of the defectiveness can be reined in and repaired at an expense that is viable.
Listed below are some of the more common non-standard property constructions that Shire Direct can arrange mortgage or remortgage facilities on. Don't worry if you don't spot your particular home construction, as we can usually consider most property types!
So, why not Contact Us and we'll be delighted to run through the options that may be available to you. We'll carefully assess your circumstances, needs, requirements and aspirations and arrive at the most appropriate solution for you!
We're certain you'll find our approach and service to be friendly, professional, helpful and unstuffy. So, please don't hesitate to get in touch if you would like to discuss your requirements, naturally without obligation!
You can telephone us free on Freephone 08000 282 281 (lines open until 10pm daily, including the weekends), or you may wish to enquire online at any time, it's both easy and quick to do! In either instance, we'll be happy to provide you with an in-principle decision - whatever your circumstances!
So that wraps up our look at Non Standard Construction Mortgages and how we can often help with mortgage facilities for properties of a Non-Standard Construction, we hope you found it to be useful! Remember, we've much more information for you throughout our website, so why not take a little time out to discover the options that may be open to you, and don't forget we're only ever a free call or a couple of mouse clicks away, and would love to hear from you and 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!
Over £2,000 worth of Argos Vouchers to be won in the Shire Direct Grand Prize Draw 2008! Terms and conditions apply - please read article for full details.
Claim £100 worth of Argos Vouchers upon completion of your transaction throughout 2008. Terms and conditions apply - see our Vouchers Special Offer page for full details.
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.
