Many mortgage companies are reluctant to lend on steel frame properties. Popular just after the war as temporary housing , many continue to give great service as family homes but certain types of construction can cause the concrete slabs to fail & damage the frame.
This can have a dramatic effect on the saleability of the house, which would become apparent if you decide to sell the property at a later date and that impacts on the security value so far as the Mortgage Lender is concerned.
There are though, many different types of steel frame construction with some being perfectly acceptable to some lenders subject to survey. The Wimpey No-Fines design for example was particularly successful with many still in existence today. They’re particularly notable as having larger gardens than modern houses – it was intended that residents should grow their own vegetables!
We have the experience & the know-how to argue your case to the most appropriate lender so don’t despair – we may still be able to secure you that Mortgage!
Get in touch with as many details of the property as possible and we’ll work hard to find you a suitable lender!
Decades of Mortgage Broking Experience to get you the mortgage you deserve
Call us today on 01704 808286 or complete our Factfind Application for a prompt response
Westminster Chambers • 106 Lord St Southport • Merseyside PR8 1LF
You may be required to pay a broking fee. The fee will depend on your circumstances, an indication is 2.5% of the loan subject to a minimum of £2800.
The overall cost for comparison is 4.6% APR but the actual rate available will depend upon your circumstances. Please ask for a personalised illustration.
Think carefully about securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.