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Non Standard Construction Mortgages

Last post Fri, Dec 12 2008, 7:54 PM by affinity. 6 replies.
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  •  Fri, Dec 12 2008, 7:54 PM

    Re: Non Standard Construction Mortgages

    You can think what you like, when i say "see an independent mortgage advisor" you criticise me, when I know I give information that is correct, you criticise me................ I am in the market everyday, my knowldege is upto date, I'm AFPC qualified, so really I have no problem what you think, as long as I know I have given the correct information that's all that matters
    • Post Points: 5
  •  Fri, Dec 12 2008, 6:45 PM

    Re: Non Standard Construction Mortgages

    Methinks you doth protest too much. In this thread, as in many others.
    • Post Points: 20
  •  Fri, Dec 12 2008, 6:16 PM

    Re: Non Standard Construction Mortgages

    ex banker I am sorry but I disagree you, I am an independent adviser and I could tell you in 5mins who would mortgage this, not because I am an expert on house construction BUT because I have a good relationship with my chartered surveyor. When chartered surveyors are writing reports they have to be completed on the required format of that lender and submitted directly to them from the surveyor, not the client, not the advisor, so they have all this knowledge and share it with advisers they work with.

    A bank does not offer independent unbiased advice and many banks no longer have advisers, they operate on an Information Only basis with a Cstomer Services Person A bank can only offer the limited product they banks sell.

    The customer services person in the bank has no relationships with surveyors, as all this work is panelled out to such companies like Colleys, who then panel it out to DM Hall, J& E Shepherd etc.

    Good Mortgage Advisors have a little more knowledge than just mortgages!

    • Post Points: 20
  •  Fri, Dec 12 2008, 5:22 PM

    Re: Non Standard Construction Mortgages

    Ok, talk to your bank first. Don't let them do an application, just ask them abou their policy on non standard buildings. Get as much detail as you can from the vendors; presumably they will have been through this themselves, and they'll probably have the kind of technical info you'll need.

    Most lenders will have a manual that says what non standard properties they can offer a mortgage on; ask staff and dangle the carrot of a sale before them if they come up with the info you need.

    Do some googling as well - you'll be amazed...

    Don't assume a broker will be an expert on house construction; if you go to a broker it should be because you need an expert on your finances, not on house building - just make sure no-one does a credit search until they've confirmed they can elnd on the kind of property you want to buy.

    Oh, and good luck.

    • Post Points: 20
  •  Fri, Dec 12 2008, 1:26 PM

    Re: Non Standard Construction Mortgages

    You need specialist lender therefore pls see an independent mortage adviser and do not allow them to run any credit scores on you until they have confirmed with the lender that they will lend on YOUR particularly non standard construction

    • Post Points: 5
  •  Fri, Dec 12 2008, 12:50 PM

    Re: Non Standard Construction Mortgages

    Unfortunately this is one of those areas where most lenders will state upfront that they can accept non standard property, but only certain types. It would be a case of finding a relevant lender to meet your mortgage needs, then contacting this lender to see if they would accept the type of property in question. A lot of this type of application falls down at the valuation stage.

    It would be worth your while speaking to an adviser who would hopefully be able to point you in the right direction.

    Michael

    • Post Points: 5
  •  Wed, Dec 10 2008, 5:33 PM

    Non Standard Construction Mortgages

    Hi, we are looking to get a mortgage for a non-standard contructional house; one is a tee-beam, the other has metal rods supporting the gable wall that has been filled with concrete and do know where to look!!

    Any help would be greatfully appreciated.

    Cheers..George/Tracy

    • Post Points: 50