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Scotchwood Construction?

Afufi
Afufi Posts: 4 Newbie
in House buying, renting & selling
Hi,

Does anyone have information on Scotchwood Construction. I have seen a 3 bed semi detached property and have been advised it is a Scotchwood Construction, furthermore I have been told only a couple of lenders are willing to lend on this!

Subsequently the property has planning permission for:
Change the external finish from prefabricated concrete panels to facing brickwork,
together with two storey side extension and single storey rear extension

The property is in London and currently on the market for £199K

Any advise welcome please?!

Comments

  • muskoka
    muskoka Posts: 1,124 Forumite
    If your property is deemed as 'defective', I doubt you'd get a mortgage on it from anywhere these days. Even repaired under license (re-placing external walls with cavity brick/block), they are extremely difficult to sell on.

    10-12 yrs ago you could get a mortgage from Halifax for these, but could be much more difficult these days.

    I could be talking rubbish - depends if Scotswood is classed as 'defective'.
  • geoffky
    geoffky Posts: 6,835 Forumite
    round here they are cash only sales due to mortgage problems...go with eyes wide open.
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
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