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MrsKaykay
Posts: 8 Forumite
Hello there,
I have finally found a house after searching for so long! My offer was accepted and when the process had already started, I found out that it is a non standard construction (Wimpey NF). I was not told before (very annoyed at that) and if I had known I maybe wouldn't have put in an offer. The condition of the property is really good as the current owner has lived for many years and never had a problem with anything. But I think my concern is the saleability of the property in few years time. "Cash buyers only" scenario when I want to sell up is my biggest fear. My mortgage provider is happy to lend me on this property and I will get a full structural survey done too. Other houses on the same road and around are all similar build and they are selling at a good price.
Does anyone have issues with this type of property?The internet is just too confusing and scary. Would I be taking a risk if I buy this property? Any advice is welcome.
Thank you.
I have finally found a house after searching for so long! My offer was accepted and when the process had already started, I found out that it is a non standard construction (Wimpey NF). I was not told before (very annoyed at that) and if I had known I maybe wouldn't have put in an offer. The condition of the property is really good as the current owner has lived for many years and never had a problem with anything. But I think my concern is the saleability of the property in few years time. "Cash buyers only" scenario when I want to sell up is my biggest fear. My mortgage provider is happy to lend me on this property and I will get a full structural survey done too. Other houses on the same road and around are all similar build and they are selling at a good price.
Does anyone have issues with this type of property?The internet is just too confusing and scary. Would I be taking a risk if I buy this property? Any advice is welcome.
Thank you.
0
Comments
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WNF is non-standard, yes, but it is NOT "defective". The definition of "defective" is specified by law, the Housing Defects Act 1984 - a third of a century old now.
https://www.designingbuildings.co.uk/wiki/Housing_Defects_Act_1984
There won't be changes to the list, unless something new comes to light about a particular construction type. WNF appears to be a fairly solid method - http://www.boltonsurveyors.org.uk/Wimpey.html - so you should be OK.
Is it worth the same as a similar "standard" house? No. Are you paying the same now as if it was? Unlikely...0 -
Would I be taking a risk if I buy this property?
Yes, you'll be taking a calculated risk, which is what most people do when they buy. There are simply too few houses where one is guaranteed that nothing will impact the resale value. It's the nature of things to change.
People will look at no fines houses in a variety of ways, but many on this forum won't even have a clue what they are; they will simply be put off because they want the illusion of something safe and conventional.
There's a village in this area where the views and general kudos that goes with living there keeps prices high. On the very edge of the village is a small estate of Wimpey no-fines properties with some of the best views. If I wanted to live in that village and most of the properties other than the dross were beyond my means, I'd buy one of those houses, because from my local knowledge, I'd say very few other kinds of blight, except prejudice, could affect them now.0 -
Right up until the planning application for a big new development gets approved, and you lose that view.There are simply too few houses where one is guaranteed that nothing will impact the resale value. It's the nature of things to change.
...
There's a village in this area where the views and general kudos that goes with living there keeps prices high. On the very edge of the village is a small estate of Wimpey no-fines properties with some of the best views. If I wanted to live in that village and most of the properties other than the dross were beyond my means, I'd buy one of those houses, because from my local knowledge, I'd say very few other kinds of blight, except prejudice, could affect them now.0 -
There are hundreds of thousands of houses in the UK built of 'poured concrete' type. The construction is actually pretty standard, the solid walls, suspended 1st floor, timber roof with concrete tiles.
The only thing to be wary of is looking for cracks. I had a surveyor who specialises in Wimpey no-fines and he said that if any cracks form around the corners of the windows then you will want to get it investigated or stay away. If cracks are left open, water can penetrate and cause rust to the small amount of steel reinforcement around the windows in the concrete. If maintained properly then it's not a problem, it's only a problem if it's neglected and left to let water in.
So take a good lock at the front and back. If there are no cracks and the covering (pebbledash or render) is in good condition, then I would buy the house with no concerns.Changing the world, one sarcastic comment at a time.0 -
Is it worth the same as a similar "standard" house? No. Are you paying the same now as if it was? Unlikely...
The current owner has extended the property to the side and back and kept the property tiptop. Couple of houses on the same road which needs refurbishment has sold for almost 8-9k more few months ago.0 -
My current house is Wimpey No Fines, as are all the ones in this street and adjoining streets, and there are no problems buying or selling them. There might be some lenders who won't give a mortgage on them I suppose, but there are plenty that do. I don't know of any that have had structural problems.
It's the first time I've owned an ex-council house ..... my previous homes, from when I was on a higher salary, were bigger houses and standard construction, but this one has the biggest bedrooms by far!0 -
Did I make my point it that badly?Right up until the planning application for a big new development gets approved, and you lose that view.
The Wimpey NF houses are the ones which are among the safest from development blight in that location, due to their elevation and the flood plain/estuary/protected bird areas below them.
That's what I meant by "from my local knowledge......" etc
Of course, in 100 years from now things might be different, or a bloody great tsunami might wipe the lot out next week, when some of the Azores goes south....
However, many people would rather buy a less well-placed, conventional build in that village than 'risk' the no fines houses, because they fear non-conventional construction more than they worry about the type of development you mention.0 -
Ah, you seem to have forgotten to mention that bit...Did I make my point it that badly?
The Wimpey NF houses are the ones which are among the safest from development blight in that location, due to their elevation and the flood plain/estuary/protected bird areas below them.
But, as a more general case...0 -
Oh but one thing I forgot to mention, home insurance is a little trickier as not ALL insurers like wimpey no-fines or laing easi-form. Last time I checked Direct Line didn't like it.
But there are plenty that do, most insurers consider concrete construction to be standards and so you won't end up paying more for your insurance, you just have to double check with the insurance company you chose.Changing the world, one sarcastic comment at a time.0 -
There are a few other things to look out for too - a substantial amount of these houses were built using red ash flooring (Google is your friend!) so get that checked out as it will be another nail in the coffin of any mortgage offer if that were still in place.
We looked at a Wimpey No-Fines recently but the detective work I did, the more problems appeared (not just the construction but other stuff too). Long shot, but it's not in the South Staffs area is it?0
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