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Non standard construction

JohnBravo
JohnBravo Posts: 274 Forumite
Tenth Anniversary 100 Posts Name Dropper Combo Breaker
edited 10 February 2022 at 2:39PM in Mortgages & endowments
Hi All,
   I hope you are well.
What is the reality and impact of non-standard-construction property on the mortgage rate? Are we talking about increase of mortgage and insurance rates after the decimal point or a more significant increase?
Thank you

Comments

  • Does anyone know or went through this himself or herself?
  • MWT
    MWT Posts: 10,707 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    You may be talking about no mortgage at all, it depends on the type of construction you are dealing with and the specific lender.
  • Does it mean it is better in this case to go through brokers who specialize in this type of stuff?
  • MWT
    MWT Posts: 10,707 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    JohnBravo said:
    Does it mean it is better in this case to go through brokers who specialize in this type of stuff?
    Absolutely, also talk to others in similar property nearby if possible to get an idea of who provided their mortgages, especially the recent purchases.

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