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Business Real Estate Affordable Housing found in Non Standard Construction Properties
| Affordable Housing found in Non Standard Construction Properties |
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| Written by Phillip Evans |
| Friday, 02 January 2009 08:40 |
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As the recession begins to take hold and the availability of mortgages is reducing its even more difficult to find an affordable home, non-traditional construction properties could offer a viable alternative Prefabricated reinforced or concrete Non standard build properties where originally designed as accommodation as a temporary solution to a housing shortage after the 2nd World War. These temporary properties where built by Councils as part of their housing stock to be rented out as council houses. When the Conservatives introduced Right To Buy in the 1980's these council houses where sold to the tenants at a discounted price. RICS Valuation Firms have typically valued these properties far below their traditionally built counterparts, as mortgage lenders shy away from lending on Non standard construction or prefabricated reinforced concrete houses as they are still classed temporary, despite them still being perfectly habitable in the 21st century. It's estimated that there were about 1.25 million (one million two hundred and fifty thousand) of these types of properties built after the war. Which I'm sure you will agree offers a great affordable housing stock. A lot of the non-traditional housing are ex local authority flats, maisonettes or low rise bungalows some of the more popular construction types are Airey, Cornish, Unity, Wates, Reema, Stent and Woolaway. Enable Finance Ltd provide non standard construction mortgages even if these non standard properties do not have a PRC certificate or have not had remedial works carried out. Non-traditional housing could provide the UK house hunter or buy to let investor a very viable solution. If you are a buy to let investor you will no doubt have come up against the rental yields not stacking up as property prices have soared over the past few years. These properties could offer a solution; make sure you speak with Enable Finance today. People buying non standard construction property tend not to pay stamp duty as often the purchase prices are below the stamp duty threshold of 175,000. Concrete properties can really offer a true affordable housing solution. For a mortgage on a non standard construction property in the United Kingdom please contact Enable Finance Ltd Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Ask for a personalised illustration. There will be a fee for arranging mortgages, normally 1% of the advance, subject to a minimum of 1950 and a maximum of 2450. The fee can usually be added to the mortgage amount. About the Author: Enable Finance are specialist brokers of mortgages and loans within the UK for a no obligation quote on our best mortgage deals or to find out more information on non standard construction mortgages please peruse our site Kindly provided by MoneyHunter.org You are welcome to use this article on your own website, if you include the link just before this text. |
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