Mortgages for Non-Standard Construction Properties

What is a PRC (Precast Reinforced Concrete) home?

Precast reinforced concrete (PRC) houses fall into the category of non-traditional construction housing. This means anything that is not a conventional brick or timber frame structure and includes steel frame, cast in-situ concrete (poured concrete) and PRC construction. Steel frame and cast in-situ concrete are such a problem. There are issues with them and a buyer would be well advised to have a full structural engineers report when buying one. PRC houses are difficult because most high street lenders will not grant mortgages on them. This is why they tend to be a lot cheaper.

So what are they? PRC history began during the period between the 2 wars, there was a shortage of building materials and a high demand for low-cost housing quick to build homes to replace the urban dwellings that had been destroyed after the war. Although the idea for building this type of housing had been around for a long time it wasn’t until the 1950s and 60s that it really got into full swing. There were many different types of PRC houses and they were usually named after the companies that built them. Examples of this are Woolaway Reema, Cornish Unit and Bryant, and many more.

After 1979 when the Conservative party came to power council houses started to be sold off, under the Right to buy scheme. Initially, people were keen to buy the non-traditional houses as well as the brick built ones but once they were in the private sector and no longer the responsibility of the local housing authority some of the problems started to become apparent. After a project conducted by the building research establishment, legislation was passed called the Housing Defects Act 1984. This was subsequently incorporated into the 1985 Housing Act. Essentially this condemned many of the PRC designs as fundamentally defective. Most of the problems related to corrosion of the reinforcement and deterioration of the concrete. After that lenders decided to withdraw funding on them unless they were the subject of an approved repair scheme.

There are schemes that have been agreed with lenders (not all)who undertake repairs under the supervision of a structural engineer which basically involved removing the external walls and replacing them with traditional cavity walls. The inner parts of the structure and the roof remained intact and so the building had to be supported during the process. There were examples of local authority repairs that were not licensed under the scheme and lenders would not advance money on those. The scheme was wound up during the 1990’s and no longer exists.

A house that has been the subject of a PRC repair with a certificate is generally acceptable as mortgage lending security but if it is in its original state it is harder for you to get a mortgage. Mortgage Solutions can help arrange mortgages on all types of non-standard construction properties

Mortgage Solutions has access to companies who will lend on Non - Standard Construction properties,these can be concrete, prefabricated, Steel frame houses regardless of whether they have been repaired or not.

Funding is available to people who wish to purchase or remortgage.

AGM Modular, Airey, Adams, Boot, Boswell, Bryant, Cornish, Cornish Bungalow, Dorran, Dyke, Gregory, Hawksley SGS, HBL Bungalow, Lilleshall, Myton House, Newland, Orlit, Parkinson, Reema Hollow Panel, Reema Conclad, Schhindler, Smith, Stent, Stonecret, Terran, Underdown, Unity, Butterley, Wates, Wessex, Weir, Winget, Whitson Fairhurst, Woolaway House, Woolaway Bungalow, Waller,

Properties in Scotland,Blackburn Orlit House,Boot House,Dorran House,Lileshall House,Lindsay House,Myton Clyde House,Orlit House,Tarran House,Tarran Clyde House,Beam,Unitroy House,Whitson Fairhurst House,Winget House. regardless of whether they have been repaired.

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