1962 Trusteel mk2 Steel Framed House advice please?

[Lillie2012]

Can anyone offer me some advice please?

I've read several posts concerning steel framed housing on here but none are recent. I had an accepted offer on a property in Rainford, St Helens. The original mortgage company informed us the property was steel framed so they would not consider mortgaging it. We contacted the council and they claim it is a Trusteel mk 2 and was built by Leatherbarrow builders in 1962. Every house in this area is a steel framed house. The majority are steel framed dormer bungalows with the exception of 3 detached properties - one of which we were looking to buy. Having been refused a mortgage we had our doubts and have since Googled 'steel framed housing.' This has obviously made us feel we should stay away from it. The estate agent claims to be completely unaware of any issues regarding the sale of these properties and has been selling them for 30 years. Our problem is this...The Nationwide will mortgage the property but have read it is best to have a structural engineer report. We are worried about a few things. Should we leave well alone? Do they have problems? If problems did ever occur, what could they be and how would they be fixed? Our insurance company says the house is covered but could they ever exempt themselves from claims in the future concerning the property type? Nationwide have offered us a five year fixed deal but what happens after the 5 years? If its a struggle now, will it be a lot worse then? And if we wanted to sell, would we have a bigger problem selling to someone else? should we be concerned or is it mainstream lenders adjusting their policies? Thanks in advance and apologies for the long story!

 

[essexexpat]

Steel frames... Id give them a very wide berth. I lived in one for 5 years as a tenant. Expensive to heat and worst of all almost impossible to get a mortgage on. The problems arise where the steel frame is bolted to the concrete floor. moisture causes corrosion to the joining plates. Many councils in the late 50;s & 60's built homes this way and are now having to spend vast sums repairing them. The houses are called Trusteel MK2 homes. Google this & you will find all you need.

 

[jeds]

Trusteel Mkiis aren't designated defective so you should be able to get mortgages on them. Some are reported to have issues with corrosion at the base of the lattice stanchions but the later houses are better than the earlier ones. These houses were built between 1946 and 1966 so you are looking at a late one. You won't know if there is an actual problem without a look inside the structure. The vendor may or may not be up for that. They also have issues with insulation but you should be able to get grants to have that sorted - if it hasn't been already.

Some people would be put off a steel framed house just like some are put off of any of the non traditional constructions. But all that should be reflected in the price. As a safety net you could have your own valuation done. I know the lender will have one done but that is for them. Have your own done and don't pay any more than the valuation. If the value nose dives for any hidden reason in years to come that valuation becomes your insurance policy.

 

[OwainDIYer]

Ignore anything the estate agent says. They're in the business of doing whatever it takes to earn their commission and they're not working for you or in your interest.

If it's a detached house - consider the value of the plot if you demolished and built new.