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!
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!