First Time Buyer Non standard construction

copland_71

Hi I'm a first time buyer and have found a property I like the inly thing is its of Tee Beam construction which is apparently why its so cheap (around 25-30K cheaper then the rest of the street). The property cost is £99000 fixed price and I have around 30% deposit. Does anyone know of any lenders which lend on this type of construction.

Also is tee beam a type of PRC?


Any help or advice would be greatly appreciated. Thanks

benjo

I dont know the answer to this question, but when I was looking at houses the estate agents were pretty helpful (unusual I know) in that they were able to say if the property was already mortgaged or in the case of a couple of places were completely unmortgagable. Perhaps ask the estate agent or vendor who their mortgage is with?

Conrad

I've not come accross Tee Beam before. All I can say is there are a number of lenders that can consider non standard construction as follows;

Nat West (B2L only)
Hampshire Trust (expect super high rates)
Alliance & Leicester

Yorkshire Bank
Bristol & West
RBS
West Bromwich BS

Abbey
Barclays
Bank of Scotland

There are others, but in the end it will largely be down to;

1) The exact nature of the build - for example concrete with a propensity to rot in the UK's damp climate could be tricky - but then why risk buying it anyway

2) The surveyors comments


Honestly, I wouldn't buy I don't think. Cheap for a reason. It may be that only cash buyers will be able to purchase.

IF
Skipton
N Rock

BM Solutions
Standard Life
Ipswich BS