Bluestone, Help to Buy and Barratt Homes Timberframe

langdalerow

Evening All,
First timer here.
Does anyone have experience with obtaining a mortgage with Bluestone on a Barratt Homes new build that has been built with the new building method using a timber frame and brick? 

I’m worrying about so many things at the moment including timescales of Bluestone’s approval process, I’m nearly in contract exchange with my current property and my new house isn’t ready until February - so having to move into my family’s home and then the ongoing pressure from Barratt to exchange contract within 6 weeks. 

I’m so worried that Bluestone will decline my application as the new house isn’t “traditionally built” although it’s got all its guarantees etc. Then I’ll be stuck without a home and I’ll lose my money that I have paid for deposits to hold the property and money spent on choices. 

I’ve had mortgage arrears in the past due to health problems but not missed a mortgage payment in over a year but had arrears being marked up until Jan this year as that’s when I paid off the arrears - I’ve been told by my MA that Bluestone would be only chance at getting a mortgage. 

I’ve got quite a large deposit and my LTV is 61% and I’ve opted to use Help to Buy in the purchase.

I hope all this makes sense.

Thanks in advance. 

withaspritz

Not sure about Bluestone but typically lenders only exclude pre-1970s timber frame (which did have numerous issues with damp and rot).  Which Barratt estate is this out of curiosity?

scottishblondie

Timber frame with block or brick skin is the normal method of construction for new builds in Scotland at least, they aren't considered as non standard.  I would imagine they're also common south of the border since the same builders operate country wide building identical houses everywhere.  We've never had any trouble getting a mortgage.