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mortgage difficulty because of house construction
millietwoshoes
Posts: 18 Forumite
Hello,
husband & I have seen a house that we are interested in but have been told by the agent that it is constructed in a way which many mortgage companies dislike?!?!? Concrete with a 'skin' of bricks..
Can anyone shed any light on this constrction method? should we avoid this property at all costs??? Any information would be greatly appreciated.
thank you
millietwoshoes
husband & I have seen a house that we are interested in but have been told by the agent that it is constructed in a way which many mortgage companies dislike?!?!? Concrete with a 'skin' of bricks..
Can anyone shed any light on this constrction method? should we avoid this property at all costs??? Any information would be greatly appreciated.
thank you
millietwoshoes
0
Comments
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it's non-standard, i "think" one of the terms for this type is bryant. there are lenders out there who will offer a mortgage if it is in good condition, but not a high st lender. you would be best to use a broker to find the right lender, or find another property.0
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The problem is that when a house is built of concrete with a brick outer skin they have a recommended life span, however they are usually much cheaper to buy.
also, you could ask the owner which mortgage company they are with.
rich0 -
There are lots of different types of concrete construction, and some are more mortgageable than others, I understand (from having looked at a "Woolaway" concrete property recently...and walked away). Down here in the South West we also have problems with Mundic Block, which was a very poor concrete made from mining waste aggregate, and anything constructed with this stuff is strictly CASH ONLY, as it is literally liable to crumble away! :eek: Best thing is to find out the exact construction and talk to a decent broker, not to mention a FULL survey!Don't see the point anymore in offering advice to people who only want to be agreed with...0
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