Non Standard Construction Mortgages - YouTube

Are you wanting to buy a non-standard construction property maybe a pebble - a

timber-framed maybe even a concrete build you're

wondering will the property sell can I get mortgage for it I've helped

countless people throughout my career by non-standard Construction properties in

this video I'll discuss the best way to go about the mortgage specific property

types and the way to buy the property stress-free let's get to it what's up my

name is an Alex Kerr and I am a qualified mortgage advisor and on this channel we provide

the best tools and tips to first-time buyers if we're meeting for the first time

please consider subscribing let's jump into the video first of all the most

traditional type of property is a brick and tile or you have bricks on the front

of the property and tiles on a pitched roof a pitched roof means it's arrow

pointing rather than flat lenders much prefer a pitched roof however there are

many types of non-standard properties the most common are concrete builds they

come in lots of different names such as Laings easiform, wimpy no fines all

have different trade names including Cornish, airy, boot, lots of different

types and every lender will have set criteria now the majority of lenders

just want to lend on traditional property types when it comes to

non-standard builds we need to understand the lenders criteria in more

detail first of all non-standard Construction properties common they tend

to be a little bit older but if the lenders happy to lend on a property like

this that's the first good sign you also have access to three different survey

types when buying a property a lender will tend to do a basic survey you can

have a homebuyers report or a full structural report for older properties

more in the Victorian range if you are concerned another point to take into

account is your solicitor will always be doing searches on the property that you

buy and their sole responsibility is to ensure you're buying a property which

does not have any major problems and the solicitor searches that they'll be

conducting will include a check on the history of the property in the

surroundings and its environment such as checks for subsidence and there's lots

of other non-standard construction types such as flying freeholds

flat roofs a whole host of claddings that you may see on properties I tend

not to give out the lenders names all the time because their criterias can

change however there are one or two high street lenders who are definitely the

go-to lenders for non-standard construction types I'll list them out in

the description now if you are interested in a non-standard

construction property the first point of call is either to speak to your bank or

a broker and get as much information about the property as you can when it

was built the exact type of property in its name is it a concrete build if so

what's it called the estate agent or seller should be able to provide you

with these details once you have that you can then approach your broker or

bank with the specifics the mortgage lender should be able to tell you if

they lend on that property type and the broker can check all of the criteria now

it is important to understand that even if a mortgage lender does lend on this

property type it doesn't guarantee they're going to provide the mortgage on

this property because like any mortgage it is subject to the survey or the

valuation the lenders still got to be happy that it's a suitable security for

them to lend the money against generally a non-standard construction property

will be quite old maybe between 1900 to 1960 something like that it's always a

good idea to get a more detailed survey such as a homebuyers report or if it's

Victorian age a full structural survey this will enable you to have as much

information on the property so you can make an informed decision as well as

seeing what the solicitor searches unravel me personally I would not be put

off by a non-standard construction property as well if you love the

property lenders of lint on the property before just make sure you're as thorough

as you can be question of the day are you considering a non-standard

construction property let me know in the comments if you'd like to discuss a

non-standard construction property of any type please do book a free no

obligation analysis call in my calendar the link is in the description just

click the link choose a time and day suitable to you and we can discuss your

options please note we are obliged to tell you that your home may be

repossessed if you do not keep up repayments on your mortgage thanks for

checking out today's video please check out the show notes for a recap on

today's content and please do consider subscribing or ringing the bell

till next time mortgage training bringing you the best tools and tips to

first-time buyers have a great day I'll see you in the next video