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Cob walls - not mortgageable?

(17 Posts)
TakeMeUpAndAway Mon 10-Apr-17 14:54:27

Anyone with any experience of non standard construction mortgages?
We have a meeting with a mortgage advisor later on in the week, but was just wondering if anyone could offer any advice or recommendations.
We've found the absolute perfect forever home but estate agent informed us that previous offers from potential buyers had fallen through due to not being granted a mortgage because of the cob walls. Its only three of the walls constructed like that, the house has been modified and extended considerably.
I'm going to be broken hearted if it's a lost cause.

CountMagnus Mon 10-Apr-17 18:12:44

Do or did the current owners have a mortgage on the house? If so, can you find out who it was with? Do you have a good size deposit? Is there a local surveyor available who knows how to survey and value cob construction?

The Nationwide and the Leeds both look like they will lend on cob construction (doesn't count it as non-standard):

www.nationwide-intermediary.co.uk/lendingcriteria/property_and_construction/construction_types

www.leedsbuildingsociety.co.uk/intermediaries/criteria-guide/#criteria-guide-result-36

You could also try these: www.ecology.co.uk/

TakeMeUpAndAway Mon 10-Apr-17 18:22:57

Thanks a lot for your reply, the current owners have acquired the house through inheritance, mortgage free and has been paid off for a long time but the previous lender may be worth finding out. We have just over a 30% deposit.
Thanks a lot for the links, my husband had a phone consult with the mortgage and he seemed positive so cross your fingers for me.smile

TakeMeUpAndAway Mon 10-Apr-17 18:23:49

Sorry, phone consultation with the mortgage advisor.

CountMagnus Mon 10-Apr-17 19:06:03

30% deposit should be good, as it reduces the risk for the lender.

Another option could be calling some Devon estate agents where cob houses are common, as they will have a good idea about lenders?

Hope everything works out for you!

TakeMeUpAndAway Mon 10-Apr-17 19:44:56

Thanks a lot for your advice and wishes!

Tobuyornot99 Mon 10-Apr-17 19:46:34

I know Santander are very good with non standard construction, they did our steel house. Good luck

justdontevenfuckingstart Mon 10-Apr-17 19:49:32

Don't know about Cob Walls but we got our non standard (clinker block) with the Halifax last year. 40% deposit. We were told at the time they were 1 of 2 lenders. (don't know how true that was)

TuddlesAndSisses Mon 10-Apr-17 19:59:38

Have you spoken to a mortgage broker? Ours is a mixture of timber frame, lathe and daub and cob. No problem for our advisor to find a mortgage (its with nationwide). They did stipulate that we had to insure it for about 100k over the price we paid though as rebuilt cost is higher.

Get a good local surveyor.

TakeMeUpAndAway Mon 10-Apr-17 20:21:16

It's still very early days but as soon as I saw the house I fell in love with it and have got a little bit ahead of myself, and set my heart on it!
Yes, we have a mortgage advisor who is going through all our details this week and we're meeting at the end of the week to discuss.
Thanks a lot for all the advice and recommendations, can I ask justdont, was your 40% deposit a requirement or just what you had to put down?

Thanks again everyone, I'm feeling positive.

wrinkleseverywhere Mon 10-Apr-17 20:36:36

I can't help on the mortgage side of it but, if you do buy it, you may need to look at some of the more rural/agricultural insurance companies.

justdontevenfuckingstart Mon 10-Apr-17 20:38:48

Take 40% was what we had to put, we didn't want to. To be honest it cleaned us out but a year on we haven't regretted it.

TakeMeUpAndAway Mon 10-Apr-17 20:45:02

Yes, the insurance is definitely something to look into.
A 40% deposit is more than we'd like but doable.

CountMagnus Mon 10-Apr-17 20:51:24

NFU Mutual might be an insurance option?

DancingLedge Mon 10-Apr-17 23:54:11

NFU ime are very sensible, human not call centre insurers.
They also include with their standard home policy cover of £500 for your pony, irrelevant to your thread, but their assumptions on how one lives tickle me.

Seriously, I am interested in a cob extension, so would be very grateful if you could update us with the eventual outcome. Thanks.

PickAChew Tue 11-Apr-17 00:00:51

I'm surprised at getting a mortgage on clinker block. Our house had a clinker block garden wall and it was used behind the facing bricks of our house - replaced the front door, after we moved in and had a load of black dust just fall out. The garden wall had already crumbled.

justdontevenfuckingstart Thu 13-Apr-17 23:37:46

Pick Like I said only 2 lenders... we were lucky.

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