I'm surprised at this, most lenders don't care about this sort of thing. As long as the valuation and survey's OK I don't know why they would do this.
There are thousands and thousands of timber frame houses in the UK and I think there would be a lot of worried people if this were the case!Mortgages?
Which does surprise me, given your joint income. All I would say to you is, if you are young and in love ( as I presume you are) there's no rush to get into a mortgage. Some of the happiest times I ever had was when I DID'NT have a mortgage.
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Hmm, I can help you to get a loan on this house if you have a permanent foundation for the house.
If yes. then please email me other details, so we can get started.
Go to an independent mortgage broker, as they will research which lender will accept this type of construction before applying for the mortgage. Lenders vary in how fussy they are, but check before applying. The are fussy because your loan is secured on that property, and if they have certain criteria of what they will and will not lend on.
Northern Rock have a fairly stringent lending policy. You might want to get your mortgage broker to research into different lenders - he may even get to talk to the local surveyors representing a particular lender.
Timber framed? Are you really meaning it's like a log home?
Using wood 2x4's to frame a house is absolutely normal, so that's not what the problem is.
If, however, your home looks like an old log cabin, it would be treated differently. Log homes are different than normal homes, and therefore have a limited pool of buyers compared to normal homes. So, lenders get stricter. It's very hard to find 3 log homes that have sold in your area within the last 12-24 months, so getting an appraised value that's actually meaningful can be next to impossible sometimes.
Get a copy of your appraisal and see if you can find another lender who can do this.
Never mind, didn't realize you were in UK.
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