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Can I get a mortgage on a single brick bungalow in Jaywick

Looking to buy a single brick property with a tiled roof in the village area of Jaywick but every estate agent says you can't get a mortgage in Jaywick quoting "non standard construction" as the reason. Looking on the Internet it says that typical non standard construction is some kind of pre-fabricated concrete and steel frame, that were built during / after the war years as a cheap way to build houses / new estates. I was advised to ask the Halifax as they are the biggest lender and everyone else tends to follow them, but gave up after several months of chasing for an answer. Can anyone advise why this is or what to do as the area will struggle to ever improve if buyers can't get a mortgage there as the market is restricted to cash buyers / investors. Thanks

Asked on Oct 16 2016, Home Finance in Clacton-on-Sea | Report content

Answers (1)

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  • Hi Kvj The properties you talk about I know well, they are classed as non traditional construction as they are not standard solid brick or cavity construction. Halifax won't lend on them, there may be a specialist lender but loan to value will be low as at best they will take the land value only. You can find more about non traditional construction at the link I have provided. I know of certain buyers who have bought on bridging finance, carried out the required works IE a second skin of brickwork then found a traditional lender, this of course carries risk. Hope that helps with your situation, good luck Owen 365propertybuyer

    Web reference:

    Answered on Oct 18 2016, Report content

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