Home owner loan lenders make use of your home as protection therefore within the unfortunate instance that you may not repay your loan, your home could be repossessed.
Securing your loan against a non-standard building (age.g. One made from such a thing besides bricks and mortar) are hard as loan providers see these properties as harder to re-sell it tough in order for them to make their cash returning to cover your loan.
Due to this, some loan that is secured have actually strict financing requirements on structures including:
- Detailed structures
- High-rise flats
- Tin Roof
- Thatched roof
- Ex-local authority
- Uninhabitable home
- Non-standard construction
- Flats with balcony access
- Metal framework
- Timber framework
A loan against a non-standard construction, make an enquiry and we’ll refer you to one of the property mortgage experts to give you the right advice for more advice on securing.
Are you able to get yourself a home owner loan with no mortgage?
An unencumbered home is a home this is certainly owned outright without any mortgage or loans guaranteed against it.
Harder to obtain a home owner loan on a house without any home loan or equity, because typically they are applied for on an extra fee home loan and have to be guaranteed within the top of the very very first fee mortgage. Læs resten