Home buying noice - non standard construction help

thecass

Ive been looking to purchase a property in glasgow which i have found out is non standard construction, im a homebuying novice and a lot off this is new to me so i was looking for some advice.

the home report states that the main wall were origionally off weir steel type however have subsequently been refurbished with brick facing outer leaf which i believe is a (prc repair).

As said we are novices and no one has mentioned the fact nor did we understand due to ignorance on our part that sometime these types have limited lending or no lending at all.

This for us is a cash purchase therefore we dont need a mortgage however if we tried to sell in future we dont want to be stuck with an unsellable property.


From what i understand now from reading up on it is if the propery hasnt been repaired then its unmortagable or has limited lending but if it has then its ok.

am i correct, obv cant speak to solicitor or estate agents till tomorrow so trying to get a little heads up and get things clear in my mind.

thanks in advance.

NeverAgain_2

Solicitors and estate agents do not lend money against property - mortgage lenders do that.

So speak to a mortgage lender.

thecass

Thanks i am aware off that, and i think its were our failling has been as we are making a cash purchase there has been no involvement with any mortgage compaines therefore no one has warned us off the possibility off any issues, ignorance on our part yes, but as i said we are novices and its all been a very large learning curve for us

NeverAgain_2

I wouldn't see it as a failing on your part, you can't be expected to know what you don't know.

Making a specimen mortgage application will give you a good idea of how mortgageable the property is in the current climate.

But lenders vary, so you can never be certain of what will happen until you want to sell and your buyer applies for a mortgage in the market and lending conditions prevailing at that time.

thecass

thanks.

does anyone know anything about these prc repairs and what they are all about?

Werdnal

Its not only the future mortgageability that can be affected, but house insurance companies can sometimes run a mile if you tell them is Non-standard Construction. We have a NSC home (no mortgage), but we are restricted on who we can get building insurance from.

If the work done to rectify the original walls was carried out by a specialist, I think they can give you documents/certificates to prove that it has been done to the correct standard, which might help you - make sure you ask to see these during your buying process, and get them transferred to you on completion. Otherwise, just remember you are no doubt buying at a favourable price now because of this, so will have to adjust any future selling price accordingly.

thecass

Thats the thing we arnt buying at a favourable price, i offered bang on asking price after a bit off tooing and frowing.

I love this property but my gut it telling me to walk away as we have went about it all wrong, i also used solicitor recommened by estate agent (i know) :eek: and i dont feel im getting the best advice from them, plus the fact that we are cash buyers we are not bing informed off any pitfalls!! :mad: