Need mortgage advice buying a Cornish house

atashy

Hi all,
I understand Cornish houses are considered as defective so not many banks or building society will provide mortgage. We have no intention of bricking the house after purchase as it has been insulated and rendered.
Anyone knows which banks/ building society offer these kind of mortgages and generally what to watch out for. Any advice will be much appreciated.

RAS

Err no.

Some Cornish houses are defective because of the materials used and some may have problems with radon, but most are OK.

What exactly is the problem?

cornishjanner

I think OP is asking about a particular type of ex-council house known as a 'Cornish unit'. These are 'non standard construction' - made of prefabricated slabs with clay roof tiles down to the bottom of the first floor. Don't know about mortgages but there are still plenty of these houses about looking OK.

Fire_Fox

See an independent mortgage broker or ask the vendors who their mortgage is with.

atashy

My bad, I should have said Cornish unit not Cornish house. It is nothing wrong with the house, we have been living in it for the last 18 years, it was a council house now housing association owns it.
As cornishjanner already mentioned these type of houses considered as defective due to the material they are constructed from (prefab concrete slabs and so on). I understand some mortgage companies shy away from giving mortgages on these type of houses.
I will make few calls to banks and building society to find out what they say. And maybe find a local mortgage broker (thanks for the advice ‘Fire Fox’).

kingstreet

Cornish Type 1 and Cornish Type 2 are designated defective under Part XVI of the HA 1985 and are therefore unmortgageable.

atashy

kingstreet wrote: »

Cornish Type 1 and Cornish Type 2 are designated defective under Part XVI of the HA 1985 and are therefore unmortgageable.

True about the defective part but I thought there are some companies who do lend money against these type of houses. Today I found Lloyds TSB and Barclays are not one of those who do

dancingfairy

Is it worth pursuing the bricking option (if you can afford it)? Presumably this would make it a) mortgagable by certain companies and b) make it more attractive to sellers if you needed to sell at any point. I don't know whether anyone would lend on the condition you get the brickwork done?
You need to speak to a mortgage broker/specialist but if it's unmortgage (as Kingstreet says and I believe he/she knows his/her stuff) then it'll be cash buyers only I'm afraid
df

kingstreet

atashy wrote: »

True about the defective part but I thought there are some companies who do lend money against these type of houses. Today I found Lloyds TSB and Barclays are not one of those who do

There was the odd one who would do low loan to value deals 2007 and before.

Today I don't know any lender which would accept a 1985 HA defective property as security. That doesn't mean there categorically isn't one, I just don't know about it at the moment.