Mortgage for a ` prefab` build?
We r 1st time buyers, found a house in our price range but cant find lender willing to mortgage on a `prefab` built house. Had structural survey done- all fine but no lender! Any finance advice ? Cheers!
Answers:
some lenders will accept a prefab build - woolwich and barclays do on some cases ie will not take any but Wimpey no fines and Laing easi form.
As others said a mortgage advisor should be able to send you in the right direction.
Go to your nearest Independent Mortgage Advice Bureau - they should be able to find you a lender.
A number of prefab constructions have passed their "sell-by" date: the design was intended to last (say) twenty years, and since some of them were now built 50 or 60 years ago, lenders are reluctant to lend on them. All I can suggest is using a mortgage broker to search for one for you. However I saw a TV program a couple of years ago highlighting the issue of people being "stuck" with prefabs which are basically unsellable for this reason.
Take out a lone and buy house outright!! Then pay back lone monthly instead of mortgage!
when you have a problem with a mortgage you should try to consolidate that loan, this is called debt consolidation.
this is rather easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-cons.
Try searching "mortgage manufactured home" at this site
http://online-mortgage-shoppers.com/.
The search function here brings up some interesting results, a little time browsing this site may bring you the information you are seeking
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Answers:
some lenders will accept a prefab build - woolwich and barclays do on some cases ie will not take any but Wimpey no fines and Laing easi form.
As others said a mortgage advisor should be able to send you in the right direction.
Go to your nearest Independent Mortgage Advice Bureau - they should be able to find you a lender.
A number of prefab constructions have passed their "sell-by" date: the design was intended to last (say) twenty years, and since some of them were now built 50 or 60 years ago, lenders are reluctant to lend on them. All I can suggest is using a mortgage broker to search for one for you. However I saw a TV program a couple of years ago highlighting the issue of people being "stuck" with prefabs which are basically unsellable for this reason.
Take out a lone and buy house outright!! Then pay back lone monthly instead of mortgage!
when you have a problem with a mortgage you should try to consolidate that loan, this is called debt consolidation.
this is rather easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-cons.
Try searching "mortgage manufactured home" at this site
http://online-mortgage-shoppers.com/.
The search function here brings up some interesting results, a little time browsing this site may bring you the information you are seeking
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