Buying a house built with concrete blocks?

Richard_Webster

I believe (not confirmed), that it's big concrete bricks/blocks ie like breeze blocks??? and it has rendered plaster on the outside. Other homes on the street are the same, or have pebbledash.

It might be Wimpey No Fines - but that isn't the point - you need to know quite specifically what type it is.

brixham

Shouldn't the construction type be in the EPC ?

shortchanged_2

kh904 wrote: »

Regarding selling on, yep that's my concern, but the selling price has been reduced to reflect that.

Even at a reduced price these houses can be notoriously difficult to sell.

mustrum_ridcully

Some concrete block houses (for example Schindler / Hawksley type) can be renovated to bring them up to modern standards (and make them mortgageable).

telfordwhite

You definitely need to find out the type of construction. If there is any steel housed within the concrete it will be vulnerable to decay.

This is important because you may find that what is mortgageable now may not be down the line depending on mortgage companies becoming more aware of problems.

Wimpey "No Fines" is mortgageable at the moment (but expensive and more difficult to insure) but nobody really knows how the concrete will fare. They have lasted 50+ years upto now but some experts feel they may have a shelf life.

I nearly bought a "No Fines" but got spooked on investigating them. Personally I would avoid unless you can get them very cheap.

Richard_Webster

Wimpey "No Fines" is mortgageable at the moment (but expensive and more difficult to insure) but nobody really knows how the concrete will fare. They have lasted 50+ years upto now but some experts feel they may have a shelf life.

This is the point - and this is one of the better types. Some types have a far worse reputation. I say reputation because it may be that the particular house has nothing wrong with it, but if it a Reema Hollow Panel or Cornish Unit or whatever it is not mortgageable unless it has been repaired and lenders are very twitchy about what kind of repair is done - some will accept some sorts of repair certificates, others won't.


So the "better" ones like Wimpey No Fines will generally attract mortgages - but as has been said - who knows about the future - others are much less mortgageable. If you are lucky enough to get a mortgage on one, there 's no guarantee a future buyer will. This is all reflected (or should be reflected) in the price.

kh904

Thank you for everyone's opinions & advice.

I now think it's best not to go ahead with an offer. I was hoping that I as being too over-cautious, but most people i've spoken too seem to say stay clear.
Maybe it's a good investment for a property developer, but not a first time buyer such as myself.

kh904

Just a little update from yesterday.

I've done a little more research, and have found out the the construction type is POSSIBLY a 'Wimpy No FInes' - there are a couple of houses on nearby roads that have come on the market stating that the are 'Wimpy NO Fines' built.
So i'm assuming the house i've seen is likely to be one too (obviously will need to get a survey to confirm).

Many of these houses are now under private ownership, so what position are these owners in? The can't be that bad surely? They woudn't have been able to get mortgages on them if they were.

If it helps, the area is SE London, SE3, prices around £170k-£190K (a quick search and you can see the properties i'm talking about).

Richard_Webster

You need to separate the alarmist concerns about genuinely defective houses that really are heavily discounted against types such as Wimpey No Fines that may have a slight discount compared to comparable traditional houses but are generally mortgageable.

Wimpey "No Fines" is mortgageable at the moment (but expensive and more difficult to insure) but nobody really knows how the concrete will fare. They have lasted 50+ years upto now but some experts feel they may have a shelf life.

I nearly bought a "No Fines" but got spooked on investigating them. Personally I would avoid unless you can get them very cheap.

I think this comment is valid - and you do have to be aware that there is a risk - but you do have to put it in context and perhaps it is over cautious - if this is all you can afford you may have take the risk - as long as you understand what you are doing.

Also don't just assume it is Wimpey No Fines, get an expert to confirm this.

RAS

Hi

How many of these properties that are currently in private ownership were purchased at a massive discount under the right to buy scheme? The real profit comes from being the ex-tenant and selling on at a good price.