Getting a Mortgage on a Single Brick Construction Home

If a property is built using single brick construction, the exterior wall is simply one brick deep. Single brick or single skin construction properties are deemed ‘non-standard’ for mortgage purposes.

Here, we investigate if getting a mortgage is more difficult for these properties and why. We identify lending criteria you may have to meet and how a broker can prove invaluable for these mortgage applications.

Can you get a mortgage on a property with single-skin construction?

Yes, it’s possible. A number of lenders will consider an application for a mortgage for this type of non-standard construction. However, their final decision will usually depend on the findings of a surveyor’s report. They will want to ensure that the property is structurally safe to minimize the risk of the loan and any other potential issues the building has.

Most people purchasing properties with single-skin construction need the services of a specialist broker to boost their chances of approval.

Why it can be more difficult

Lenders see single-skin properties as posing more risks. With more risks comes decreased market interest, which affects the property’s resale value. As a result, lenders are more hesitant to lend, as they want to recoup their investment in the unfortunate event of a repossession.

There are a number of reasons that single-skin properties have more risks attached to them.

• Structural integrity: This type of construction has been identified as weaker than more modern, standard construction properties. Lenders are concerned about the risk and added expense of rectifying any issues.
• Damp: These properties are more prone to damp as water can penetrate the home more easily. Modern properties, with an air cavity, allow far more ventilation, so damp is less of an issue.
• Energy inefficient: The amount of warm air that can escape a single-skin property makes it thermally inefficient. Potential buyers may be put off by this, preventing them from making an offer.

What about a property with a single skin extension?

If the only part of your potential property with a single-skin construction is an extension, you may find it easier to get a mortgage than if the entire property was built this way. The risks usually posed with single-skin constructions are perceived to be far less if they only apply to a small portion of the house.

You may find that your range of lenders is wider than if the entire property were a single-skin construction. However, a broker is still a good bet, as they’ll know what lenders offer you the best rates, given your circumstances and the property itself.

How a broker can help you get approved for a single brick mortgage

The brokers we work with will weigh all the above factors in your situation. They will then assess which lender is most likely to accept your application. That’s down to their experience and detailed knowledge of the mortgage lending industry.

They’ll give you the right advice regarding single-skin properties and how your property’s characteristics can affect which lenders will extend you a loan.

As a specialist broker will know all the lenders who will accept your application, you will have more options from which to choose. You can, therefore, pick between a better range of products – which may include a lower rate or a longer term, which would reduce your monthly payments.

They could save you money as lenders sometimes place a higher interest rate on these mortgages to offset the higher perceived risk.

Contact us so we can connect you with an expert with extensive experience in this area.

Lending criteria for properties with this construction

Every lender has a different approach when considering mortgage applications.

When it comes to single-skin constructions, providers will have their stance on the following factors:

• Number of storeys: Many lenders specify the number of storeys they are happy with for the single-skin portion of the property. Those offering these products may require the single-skin portion to be one storey only; some may go higher. Others will solely depend on the outcome of a surveyor’s report.
• Type of room: Lenders may want the areas with a single skin to be non-habitable rooms, such as kitchens, bathrooms, storage rooms, or porches, and not bedrooms.
• Property location: Some providers want these properties to be sheltered.

Other more generic factors that could impact your eligibility are:

• Age – Lenders usually only extend to those between 21 and 70. Some may go higher.
• Income type – Some lenders specify how income is earned. For example, not all lenders consider bonuses and commissions within their eligibility assessments. Instead, they may only use salary income.
• Credit history – Past bad credit issues won’t automatically stop you from getting a mortgage. Lenders weigh up the severity of the problem and when it was on a case-by-case basis.
• Deposit and LTV—The larger your deposit and the better your loan-to-value ratio, the more providers will consider your application. This is due to the lower risk of lending to you.

Get matched with a non-standard construction mortgage specialist.

With many mortgage providers saying they will potentially offer a mortgage on single-skin construction properties, using a broker to find the right one for you can be invaluable. A non-standard construction mortgage specialist will have in-depth market knowledge to know which lender will accept your application, considering your specific financial situation and the house you want to buy.

Call us on 0330 818 7026 or enquire online with us today so that we can connect you with one of the specialists we work with.