Can I get a mortgage on a timber framed house?
Can I get a mortgage on a timber framed house? Yes you can, but it depends. Despite their popularity, some lenders deem timber frame properties to be ‘non-standard’, which can make getting a timber frame mortgage difficult – but not impossible.Click to see full answer. Herein, are timber framed houses any good?The vast majority of…
Can I get a mortgage on a timber framed house? Yes you can, but it depends. Despite their popularity, some lenders deem timber frame properties to be ‘non-standard’, which can make getting a timber frame mortgage difficult – but not impossible.Click to see full answer. Herein, are timber framed houses any good?The vast majority of new-build homes are being built with a timber frame, and with good reason. There are many benefits to timber frame buildings. And as well as being cost-effective, timber frame buildings are also highly versatile, as they can be clad in almost any building material.Similarly, can I get a mortgage on a non standard construction house? Yes, there are specialist lenders who offer non-standard construction mortgages. This doesn’t mean, however, that a risk-averse lender will offer you a mortgage for a non-standard construction house if it violates their criteria in some way. You may have to look further. Also know, can I get a mortgage on a steel framed house? It’s possible, though it will depend upon the type of steel framed house in question. Due to problems with resale and insurance, some lenders won’t even consider steel frame house mortgages. Others will consider more ‘reliable’ kinds of steel frame construction. Others will lend on the majority of such houses.What is the life expectancy of a timber frame house?The timber frame itself is normally “guaranteed” by the manufacturer for various periods ranging from 10 to 40 years. It is a commonly perceived opinion within the industry that 25 –30 years is a reasonably expected life span for a softwood timber framed building.
