Non standard construction / Pre Fabricated Construction PRC mortgage

ComperEm

Hi all
The Halifax are looking into whether or not it is essential we have the PRC repair undertaken before offering a mortgage. Does anyone have any experience of obtaining a PRC property (ours is a Cornish Unit) without undertaking the repairs?

If you have had the PRC repair undertaken, was this by a specialist company or is it possible to have the work undertaken by a non-specialist and signed off by a structural engineer?

EDIT - we are trying to buy using Right to Buy as renting from the council, the property is not currently repaired.

Thanks in advance
Em

stator

You're trying to buy a PRC home that hasn't been repaied with a mortgage?

Or are you trying to mortgage a home you already own?

You will need a proper PRC repair Certificate which means you need the experts. Cornish unit repairs are expensive.

ComperEm

Thanks, I'm trying to buy via the council using Right to Buy which hasn't been repaired using a mortgage.

stator

It looks like Halifax have funded this type of purchase in the past, you'll have to wait and see if they still do.

http://www.prc-repair.co.uk/cornish/
http://www.prc-certificate.co.uk/cornish-unit-type-1-prc-house/

You definitely need someone to do the work who is qualified to do the work to the standard that will get you the repair certificate. Otherwise they might not release the retention funds.

sonova1503

I'm also looking at right to buy on my 'Woolaways' prefab. I have seen companies that will lend enough to buy and have company brick it up with a higher interest rate (obviously subject to income etc. )

Just wondering if anyone knows if I took out one of these mortgages and the house was then repaired too mortgageable standard , could I then in the future swap mortgages to a more favourable rate.

Sorry if this is a stupid question but I am a mortgage virgin