Non Standard Construction Mortgage: A Complete Guide for Unique Property Buyers

Securing a non standard construction mortgage can be challenging, especially if your property is built using unconventional materials like timber or steel. Understanding your options and requirements is crucial to finding the best mortgage deal for non-traditional homes

Are you interested in getting a mortgage on non standard construction? If yes, then this article is for you.

In the past few years, there has been a huge increase in demand for non-standard construction mortgages. Non Standard Construction houses are the ones that have been built with unconventional designs and materials. They can be anything from a small house to a large mansion.

Over the years working as a Whole of the Market Mortgage broker, we have received a lot of enquiries for mortgages on non standard construction properties. So, in this article, we help our readers to explore all the possibilities of getting a mortgage for unusual or non standard construction houses. We will answer frequently asked questions such as can I get a mortgage on a Non-Standard Constructed House? How to get a mortgage on an old construction house, how much can I borrow, what are the eligibility criteria of mortgage lenders for such mortgages etc.?

Post Topics

What is a Non-Standard Construction Property?

What is a Non-Standard Construction Mortgage?

How to get a mortgage on Non-Standard Property?

How to get a mortgage on an old construction house?

How much can I borrow for a non-standard property?

What are the eligibility criteria for mortgages for non-standard construction?

Next Steps

FAQs- Mortgages For Non Standard Construction

What is a Non-Standard Construction Property?

A standard construction property is a house built of brick concrete or stones with slate roofing. These standard-constructed properties are built as per modern building standards. However, any property that falls outside this category is defined as a ‘Non-Standard Construction’ type. Mortgage lenders consider such properties musk riskier than other types of properties. This is because they are not built according to the same set of rules and regulations as those followed by builders who build standard constructions. The following are some examples of non-standard constructions:

1) A house built using wood instead of bricks or stone.

2) A house built without proper planning permissionPermission granted by the local authority for a property to ....

3) A house built without a building permit.

4) A house built without obtaining necessary approvals from local authorities.

5) A house built without taking into consideration the safety aspects.

6) A house built without considering the environmental impact.

7) A house built without ensuring adequate ventilation.

8) A house built without providing sufficient space for parking.

9) A house built without a proper drainage system.

10) A house built without making provisions for fire safety.

Types of Properties Eligible for a Non Standard Construction Mortgage

There are also specific non-standard construction property types that you can read about below.:

• Reema Construction
• Cob Construction
• Wattle & Daub
• Cornish Unit Construction
• Timber Frame Construction

What is a Non-Standard Construction Mortgage?

A Non-Construction Mortgage is a type of mortgage specifically for properties that fall under Non-Standard Property Types. It is a loan that allows borrowers to take out a mortgage for their home even if it does not meet the traditional requirements for a mortgage. For example, a borrower may want to buy a property that was built before 1990 but doesn’t qualify for a conventional mortgage. In such cases, Non-Standard Construction Mortgages can be used to finance these properties.

The main advantage of a Non-Standard Construction Loan over a Conventional Mortgage is that it allows borrowers to access funds at lower interest rates. The reason behind this is that Non-Standard Construction Loans are considered more risky loans than conventional ones. Therefore, banks offer them at higher interest rates. But, there are certain conditions that need to be fulfilled before a borrower can avail of a Non-Standard Mortgage. Some of these conditions include:

1) The property must be constructed within the last 20 years.

2) The property must be located in a metropolitan area.

3) The property should be freehold.

4) The property should be owner-occupied.

5) The property must be free of encumbrances.

6) The property should be located in a region where the bank has branches.

There are many others that are required for these mortgages. We would suggest you contact a mortgage broker for the best advice.

How to get a mortgage on Non-Standard Property?

There are many types of non-standard construction properties that may require a non standard construction mortgage, including timber frames, steel frames, thatched roofs, and concrete constructions. Each type has unique challenges when securing a mortgage, and understanding these can help in choosing the right mortgage lender.

However, some lenders may give you a chance to prove yourself. They may ask you to provide documentation regarding the construction of your property. If you fail to provide any proof, then you won’t be able to apply for a mortgage.

You may also find it difficult to get a mortgage on a Non-Standard Property if you don’t own the land on which the building stands. This is because most lenders require ownership of the land to grant you a mortgage. So, you will have to sell the land and use the money from the sale to pay off the mortgage.

You can also try to get a mortgage on your Non-Standard Property by taking a second mortgage. This means that you will have to borrow additional funds from another source. You will have to repay the amount borrowed plus interest.

How to get a mortgage on an old construction house?

Old Construction Houses are houses that were built before 1990. These types of homes are usually cheaper than other types of homes. Old Construction Homes are often found in rural areas or suburbs. There are two ways to get a mortgage on these homes. One way is to purchase the property outright. Another option is to refinance the existing mortgage. Both options come with their pros and cons. Let us discuss both of them in detail below:

Purchase an Old House

If you decide to purchase an Old Construction Home, you will have to make sure that the property meets all the requirements for a mortgage. Most importantly, the property needs to be free of any encumbrance. It should also be located in a region that has a branch of the bank that offers mortgages. Once you meet all these criteria, you can proceed with the purchase.

Refinancing an Existing Mortgage

If you already have a mortgage on your home, you can refinance it. Refinancing an existing mortgage involves paying off the current loan and getting a new one at a lower rate. This is done by refinancing your mortgage. To do this, you need to approach a mortgage broker who will guide you through the whole process.

The first step is to check whether your current mortgage provider allows you to refinance. If so, you can start looking for a better deal. You can either look for a fixed-rate mortgage or a variable-rate mortgage.

It is better to contact a broker with experience in old construction mortgages who can help you in getting the most suitable deal.

How much can I borrow for a non-standard property?

The amount of money that you can borrow for a non-standard property depends on various factors such as your credit score. Annual income, etc. You can consult a financial advisor to know how much money you can borrow for a particular type of property.

What are the eligibility criteria for mortgages for non-standard construction?

Every mortgage lender has different lending criteria and the maximum amount of money that you will be allowed to borrow is determined by the value of the property. Some mortgage lenders won’t approve the application if you have a bad credit history. However, there are some bad credit lenders who can approve your mortgage application. If you are interested to know more about the eligibility criteria of lenders, you can contact a market broker. A market broker can help you to get the best mortgage deal as per your affordability.

Next Steps

Over the years, we have worked with different mortgage lenders who have approved mortgages for non-standard construction houses. If you are also interested in buying a house with old construction and starting your journey onto the property ladder in the UK.

We hope that by reading through this article, you will find answers to your queries about getting a mortgage on non-standard constructions. However, you can also contact our team of dedicated specialist brokers who can help you to get a mortgage from specialist lenders.

FAQs- Mortgages For Non Standard Construction

What is a non-standard construction mortgage?

A non-standard construction mortgage is a loan that is used to purchase a property that is not constructed of standard materials, such as brick and mortar. Non-standard construction properties can include:

• Mobile homes
• Caravans
• Boats
• Houses made of timber steel frames and concrete foundations
• Houses with thatched roofs
• Houses with flat roofs

Can I get a mortgage on a house with a thatched roof?

Yes, you can get a mortgage on a house with a thatched roof, but you may need to contact a dedicated specialist broker. Thatched roofs are considered a fire hazard which can repel some high street lenders.

Can I get a mortgage on timber frame properties?

Yes, you can get a mortgage on timber frame properties. However, it is important to make sure that the unusual property construction is up to safety standards and meets any local authority regulations. In some cases, lenders may also require an independent surveyor to visit the property before they approve the mortgage application. If you are interested in non-standard category property mortgages, you can share the property details with specialist mortgage advisers.

Do I need to provide additional information to get a non-standard construction mortgage?

Yes, you may need to provide additional information such as the property’s age and condition, the history of renovations and structural works that have been completed on the property. It is also important to provide proof of your income and an appraisal report of the property. Most mortgage lenders will check your ability to pay the mortgage repayments for non-standard construction mortgages.

Is it difficult to get a mortgage on a prefabricated concrete house?

Yes, it is complicated to get a mortgage on a prefabricated concrete house because of the non-standard nature of the property. Read about mortgages on a prefab concrete house on our blog on the website.

How is a non-standard mortgage different from regular mortgages?

A non-standard mortgage is different from a regular mortgage in many aspects. A non-standard mortgage is for properties that don’t meet the normal standards set by banks. Regular mortgages for properties that are constructed by following the regular standards set by the authorities.

Are all non-standard mortgages risky?

The chances of getting a mortgage on an unusual construction are limited by various factors such as the location of the property, the condition of the property, the size of the property, the number of rooms, the age of the building, etc. If you are looking to buy a non-standard constructed house, you may need to contact a specialist mortgage broker who can help you with the mortgage application process.

Do all non-standard mortgages require a guarantorA person who guarantees to repay a mortgage if the borrower ...?

It completely depends on the type of loan you apply for. Most of the time, a non-standard mortgage requires a guarantor. The guarantor helps the borrower to repay the loan in case the borrower fails to pay back the loan. However, some non-standard construction mortgage lenders can approve the mortgage without the need for a guarantor.

Can I get a mortgage on a standard construction house?

Getting a mortgage on a standard construction house is much easier compared to other properties. The affordability criteria set by mortgage lenders for such properties are more lenient than the criteria set for non-standard homes or unusual constructions. If you are interested in getting such a mortgage you can always contact a mortgage broker for professional advice.

 What is considered unusual homes for mortgages?

Unusual homes can be any property that is not built to the standard codes and regulations set by the authorities. This includes properties such as prefabricated concrete homes, timber frame constructions, straw bale houses and more. These types of dwellings can attract higher interest rates because they may be considered higher risk than traditional construction. Some lenders may even require an independent surveyor to inspect the property before approving a mortgage.

Can I get a mortgage for a house with brick walls?

Yes, you can get a mortgage for a house with brick walls. The suitable lender will assess the property’s age and condition before approving your mortgage application. Additionally, lenders may require you to provide proof of income and an appraisal report of the property. This is to ensure that you are able to pay back the loan in a timely manner if approved. Generally, mortgages on properties with brick walls have similar