* Have a AIP for mortgage, but now going to view concrete building *

CharleneUK

Does anyone know or have experience of any difficulties with nationwide mortgages and concrete buildings?

I'm looking for a 10 year fixed mortgage for 5.3%

I've been told to go to a whole of market broker, which I'm still considering, but lots of people have also said that I have a good deal with nationwide.

So back to original question...... Any ideas?

AndrewSmith

Depends on the type of concrete construction. It may also limit the amount of loan against value of the property they will lend, for example they may limit you to 75% of the value.

Ask the selling agent which type of construction it is then refer it to the Nationwide directly. They should be able to answer it quite easily for you.

MortgageMamma

Nationwide will occassionally lend on concrete properties. it depends on the age of the property, the supporting frame, the type of concrete and the general condition of the property. You could pursue it with them and chance losing your valuation fee, or you could approach a company that will definately lend on a concrete property - up to you, but don't expect too many answers from the branch as they are usually clueless about this stuff

ring your estate agent get dates property, ask if they know the type of concrete and whether this particular construction is classed as defective, if they are aware of any structural defects etc. All this info, whether you go through nationwide direct or to a broker is always really useful

CharleneUK

Thanks for that. I'm viewing the property on Wednesday, so will ask as many questions as I can, then get back to nationwide.

Cheers.

MortgageMamma

Make sure you ask lots about the vendors reasons for selling and have a good nosey in that respect too without being too obvious, will enable you to assess your negotiating possibilities

CharleneUK

We were typing at the same time MortgageMama, thanks for your post, both of you, I've added them to the list of questions I'm taking with me.

I'll definitely ask all those questions. Here's the property if it's of any interest! http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=189198&agentid=04956

Thanks again.

MortgageMamma

Looks like a late 70's or early 80's to me but i might be wrong if its been cosmetically improved recently.

Concrete lenders dont have a problem with concrete from the 70's upwards but do try to be specific as possible with the EA, and if they don't know ask the vendor directly or knock on the neighbours door, they will have had mortgages on it and will likely know the answers

herbiesjp

CharleneUK wrote: »

We were typing at the same time MortgageMama, thanks for your post, both of you, I've added them to the list of questions I'm taking with me.

I'll definitely ask all those questions. Here's the property if it's of any interest! http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=189198&agentid=04956

Thanks again.

You could get Nationwide to ask the local surveyors that they use, to see if they have done any mortgages there previously, or if they know of any reason why that property would not be ok for them.

The more questions you can ask the better.

HTH

CharleneUK

Only just seen the last post, many thanks.

I'm off to view tomorrow, so will get back to nationwide afterwards.

In the meantime, I'm looking for a local fees free broker.

MortgageMamma

We are not allowed to put ourselves forward or recommend other brokers, but if you want to use a broker off this board it is permitted for you to do so, as long as you contact them by PM. If you look at the locations under the brokers usernames you will probably find someone reasonably close.

Best of luck

MortgageMamma

CharleneUK

Fantastic! Thanks for that, will have a look around now

On this thread, even!