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Pre-Fab
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SB100
3 Posts
(Offline)
1
06/01/2021 - 3:03 pm

Hi..

I had a mortgage valuation come back at £0 as it was apparently a pre-fabricated house

Before yesterday I had no idea these even existed, but the house is in an ideal area and therefore don’t know if any lender will give me a mortgage on this??

Any ideas?

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101 Posts
(Offline)
2
06/01/2021 - 3:03 pm

Hi, thanks for getting in contact.

This can be possible but will very much come down to the finer details.

A few key variables that will influence your options:

You are likely going to need a larger deposit for a non-standard property build
Credit profile will be a big factor as non-standard properties are possible with specialist lenders but can come at higher rates
The type of pre-fabrication this property is and whether it’s been maintained within the T&C’s of the build

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SB100
3 Posts
(Offline)
3
06/01/2021 - 3:04 pm

Thanks David,

The Estate Agent never mentioned any of the above, but I will try to ascertain the details now.

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101 Posts
(Offline)
4
06/01/2021 - 3:04 pm

Let me know how you get on and feel free to ask any follow up questions

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SB100
3 Posts
(Offline)
5
06/01/2021 - 3:05 pm

Unbelievably the Estate Agent knew all about it, he says it is steel framed and has been maintained appropriately.

I’ve implied that I may revise my price now I am aware of this new information, although he doesn’t think it makes any difference

Most of my adverse credit is historic and I do have a sensible deposit.

I’ll think on and report back

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