Estate Agent devaluing house because it's Concrete?

stief

Oh pants, hopes getting dashed then maybe shouldn't have invested 25k in the house last year then booooo

googler

Ask a qualified surveyor if it's of 'non-standard construction'.

OR

Consult the survey that you had done when you bought it.

This page confirms Wimpey No Fines is one of these types.

http://www.imfa.co.uk/non-standard-property.htm

Since the EA knows the name, it seems likely that your house is of this type, but I'd still consult a surveyor to confirm. Or google the term and see if you can confirm it yourself. There's a Wikipedia page devoted to them, and specialist mortgage brokers for them too.....

stief

googler wrote: »

Ask a qualified surveyor if it's of 'non-standard construction'.

OR

Consult the survey that you had done when you bought it.

This page confirms Wimpey No Fines is one of these types.



Since the EA knows the name, it seems likely that your house is of this type, but I'd still consult a surveyor to confirm. Or google the term and see if you can confirm it yourself. There's a Wikipedia page devoted to them, and specialist mortgage brokers for them too.....

Thank you. I checked our survey by our mortgage lender from when we bought it.... "Wimpey No Fines" Gutted

Just had 3rd estate agent in and they've quoted even more than the first... so

1st - 180k 2nd- 165k 3rd- 190k and said under 200k...


ARGH- part worried now that it will be the 165k now, as we were hoping realistically 175-180....

mustrum_ridcully

Sounds like you house is one of these http://en.wikipedia.org/wiki/Wimpey_no-fines_house even mentions mortgage restrictions.

Be thankful it's a wimpey "no fines" as opposed to a Hawksley (or some of the other non traditional methods) they are as good as unmortgageable.

Kendall85

Hi There

Lenders aren't too keen on lending on anything which isn't 'conventional construction', concrete is prone to cracking and buildings made from concrete can quickly become unstable and/or require major structural work to stabilise.

So that in mind it is much harder to attain finance over long periods at any sort of attractive rate, consider it like trying to insure an imported sportscar from japan where parts are import order only which pushes insurance and maintainence premiums up hence the reduction in price.