Wimpy no-fines

Niknak82

Hi. We have found the home of our dreams and things were progressing well until the survey revealed it was a non standard construction of a Wimpy no-fines. 1970. Our valuation of the house from the survey was a lot less than our offer but the vendor has agreed to come down in price to almost match the valuation.

We have been looking for a long time in the area and very few houses come up for sale and go very fast when they do. We are aware that we get a lot of house for our money and the house is perfect for us and would do us well into the future. The survey showed nothing of note apart from this.

We are first time buyers and are very anxious now after reading many things online and talking to people who say to stay away.we are not concerned that we won't make as much money on the house as we would a brick house but our main concern if in the future the house devalues so much that we put ourselves in huge debt if we for example have to sell for a huge amount less than we paid for it. The area is very popular and we can only see this popularity growing.

Just wondered if anyone has a no-fines house, would people have any further advice that could help us. (We have secured a mortgage on this house and insurance is no problem ). Thanks

Notnow

I had the same dilemma and it's nothing to worry about. Roughly 80% of houses are of non-standard construction and I kept hearing to stay away and that nobody would lend on them. None of that was true, most housing around by me is Wimpey no fines and they sell all the time. Ignore all the myths about them being cold as well, I have lived in one and it felt no different at all to any other place I have lived.

Many people are living in a non-standard construction property and don't even know it.

Davesnave

Notnow wrote: »

Roughly 80% of houses are of non-standard construction.

I'm sorry, but if you come on here and write nonsense like that, no one will take much notice of you.

By definition 80% of people cannot be living in houses of non-standard construction, because if they were, they'd not be non-standard!

What counts is the precise kind of construction method and whether lenders will advance money on the property at reasonable rates. If they will, then there is no problem, provided the survey is good.

It's a pity you wrote what I've highlighted, because your anecdotal evidence is useful to the OP.

stator

Wimpey No-Fines is not a problem. It's poured concrete with a single thick concrete wall.
I have the other type, Laing Easi-form, which is two smaller concrete walls.
The important thing is that you get a STRUCTURAL survey done by someone who knows about these houses. If the house has cracking of the exterior render you will want an expert opinion because there is some steel in the concrete and if the render is cracked it could be exposed and rust. It's important to keep the exterior in good condition.

Mortgages are easy to get, but you do have to check if they lend on Wimpey no-fines. Most high-street lenders will.

Insurance is a little more time consuming as you have to check with the insurance company if they cover your type of house, but I had no trouble finding an insurer.

I don't think there are any issues with resale. Concrete isn't going anyway. Some people say the houses are a little cold and sometimes damp, but this is because it's a single wall house so you could consider insulating it internally or externally to improve the insulation.

AdrianC

"Non-standard" does not automatically mean "defective".
Defective construction is a problem. Non-standard is not inherently a problem.

C.C.L.

We had a Wimpey No-Fines house for 19 years, we had no problem getting a mortgage for it, or insurance. The house was easy to maintain, no damp or condensation, and was much warmer than this 1890's stone house we have now.
We sold it in August this year and the buyers didn't have any problems with finance or insurance either.
Edited to add:- Regarding the value of the property, we were very surprised at the valuation of ours, much more (£20,000) than we anticipated and it sold the same day for full asking price.