Non Standard Construction / BISF Help

nirey666

Hi there

New to posting although I have read many many posts, particuarly on the non standard construction side of things, but there doesnt seem to be any info post credit crunch.

clutton_2

i think you need to talk to a "Whole market" mortgage broker who can advise you - he will have access to products that you do not and can search thousands of mortgage products in moments

talk to 2 or 3 and see which one you like

nirey666

Hiya,

Thanks. I should have mentioned that I visited a whole of market broker who i felt favoured the halifax a bit too much.

lincroft1710

Always remember that most people do not stay in one house all their life and sooner or later you'll want to sell and your prospective purchasers are going to encounter same problems as you have.

nirey666

I had considered the re-selling aspect, but it is a really popular area, I know for sure there certainly wouldnt be a lack of interest if we re-sold, I just fear mortgages for these properties could disappear.

Does anyone happen to know if Abbey Lend?

Angela

Personally I would avoid a steel framed house,due to the corrosion problems,this is the reason why so many lenders avoid them.
Is it a BISF Type A,A1,B or C.
Mind you it doesnt make any differance they are all steel framed so the same problems.
I am in the property business and have a book that lists all non traditional builds and it lists all the faults and how many were built etc.
Heres the problems with the BISF Type A1
Corrosion to bases and corners,corrosion to sheeting rails,cracking of concrete ground floor particularly at corners,corrosion of metal on exterior walls,corrosion of metal sheet within the construction of the ground floor external walls, corrosion of metal flues, you say it has had a new roof so you dont need to worry about the old asbestos cement roof.
HTH

nirey666

Thank you Angela, that information is really appreciated. I'm not sure what the Type is. Ive gone over and over everything on the internet. I seem to know all the problems but I just cant make a decision as the house ticks all the boxes for us.

Do you think a structural report would highlight these issues if they were present?

Im pretty confident in the soundness of the house. Im more worried about the finance situation, we're quite young and would probably move on evenutally.

nirey666

Hi there

I have to make a decision on this in the coming days. Just a wee bump to see if any1 has any further advice??

lincroft1710

Although mortgage lenders are very cautious at the moment, they have always viewed non trad construction with suspicion. Usually with good reason - these house types have inherent problems.

Can't make up your mind for you, but I wouldn't buy a BISF house.

**Upsy_Daisy**

I wouldn't touch one either...
I know that Barclays are flexible on what they lend on so may be worth trying
Is there really no alternative?
You may have trouble selling - not saying that you never will sell but it could take longer than you would have hoped and if your circs change you may have to rent out for a few years - is it in a strong rental area?

nirey666

Hi guys,

Thanks for everythng. Decison time is looming for me and its soo so hard. It really is the house of my dreams.

Im confident in its structure etc im just worried about the mortgage situation not even now but in the future.

This will be the hardest decison ever.