Experience with non standard construction lenders

Nutella18

I have had an offer accepted on a property of non standard construction.

Specifically built with “wier steel”, many in the area have sold some with underpinning/outer leaf brick and some not.

I have submitted to Halifax on the word of others in the area with the same houses, but I can’t help but feel nervous that it will be rejected.

Anyone aware of any other lenders I could approach if they refuse? As I am in Scotland the home report notes it’s structurally sound however it is not a thorough structural report.

Any personal experiences in these types of houses are most welcome also?

AmyShepherd

HSBC would only lend up to 80% (so you’d need a 20% deposit).

Barclays are good with only 10% deposit and don’t seem to have any issues with NSC properties.

They’re the only two I’ve experience with.

pinknsparkly

Halifax lent on our nonstandard construction house without any issues whatsoever (they didn't even comment on the structure, which surprised me after my conversations with Coventry Building Society who wouldn't lend on it!)

Nutella18

Hi Pink n Sparkly

That is a relief to know ... I was actually outbid and the reason being is they could not get mortgage With Barclays, don’t know exactly why they didn’t try other lenders. I have approached Halifax just really nervous. Are you in Scotland?

AmyShepherd

Ours is with Barclays, which is how I know, so I would imagine the reason they’ve pulled out is down to another reason.

If the mortgage was an issue, they’d just go to another lender? But Barclays 100% lend on those properties.

I’d be getting a high end structural survey ASAP if I were you.

hobbeskat

We have a Trusteel house with NatWest - they wanted a steel survey before lending so get one. About £200 but invasive - they need to drill a hole to use a boroscope.

Nutella18

Just to update on anyone looking for answers mortgage went through for Halifax