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BISF houses .. are they easy to mortgage
Lckuj2018
Posts: 30 Forumite
We have found another home we would like to buy as our initial one was taken from us 
… the new one is gorgeous however it’s steel frame.
… the new one is gorgeous however it’s steel frame. Are application is already in with NatWest after our AIP. We are putting down 7% deposit.
Been hearing that the LTV matters on these houses. Is this still the situ?
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Comments
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I should not Butt in, because I don’t know what the answer is to your specific question. However, if this house appears to offer outstanding value compared with conventionally built houses, that probably answers your question, ie it’s probably cheap because it’s hard to mortgage.So, I hope it works out for you, but don’t get too emotionally invested just yet.No reliance should be placed on the above! Absolutely none, do you hear?2
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I think you will struggle on non standard construction, you will need a large deposit to put down to protect lenders security of getting their money back as it will be limited to those who want to buy one
Has it been re-inforced as that will make a difference1 -
50 lenders say they will consider such property on our criteria system.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.2
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Do they give any indication of rates or deposit requirements?kingstreet said:50 lenders say they will consider such property on our criteria system.No reliance should be placed on the above! Absolutely none, do you hear?0 -
No. Usual rates/terms will apply if the property is deemed acceptable by the lender's chosen surveyor.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
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