Waites construction of house (info please)

grumpy-old-woman_2

Hi all, I went to look at a house yesterday that has been empty for some time and i like it but the major drawback is that its a waites construction. I had no idea what this meant so have had a look and found out that its means non-standard construcion-in this case its concrete built. The row of houses have all been cladded but I have been told this makes not one bit of difference and that there are only 2 mortgage companies that will give a mortgage on these and they have to be 60%deposit. Another estate agent told me this and realy am just after some more information on this type of construction if anyone should know. I am told they have a very short life span (75 years ) as well, thanks all

Lotus-eater

I know nothing about this construction method, but if you have been told that only 2 companies will give you a mortgage, then isn't it a no brainer? How difficult do you think it will be to sell the property on next time?
Bloody hard is the answer. I wouldn't touch it, unless it had something you must have and can't find elsewhere.

Davesnave

This site tells you just about all you need to know.

http://www.shiredirect.com/mortgage-glossary/prc-homes-housing.html

Happy choosing!

ETA: Being mortgage brokers, what they don't say is that any deal they arrange will be at a fairly high rate.