ARE PRE FAB HOUSES MORTGAGABLE???

[iWantChampagneOnColaBudget]

just that really, we have the opportunity to move into a local authority house but its a pre fab house--
after 5 years, we will be able to buy our home with a discount but that will mean finding a lender for the remaining sum, but i have heard horror stories of these type of houses not being mortgagable and therefore even though they come with the discount, we wont be able to buy

any advise on the situation greatly appreciated

My expertise gleaned from Homes under the Hammer would suggest they're difficult/impossible to get a mortgage on. And if you ever wanted to then sell it, you'd need to build a brick skin around it Martin said

They are considered (rightly) "non-standard construction" so your choice of lenders would be severely limited. Maybe leave it in the council pool for others to benefit from?

i've tried looking at homes under the hammer, but the episode wont play.

i get where you're coming from lala but to have that option would be security

has anyone succesfully attained a mortgage for these type of propertys

There are specialist lenders - you can google "mortgage non-standard construction" - but they are likely to be quite expensive. It also depends what sort of prefab it is - what the walls are made of, whether there are other problems inherent in that style of prefab apart from the NSC. The long and short of it is that, unless it is fantastically well located and/or architecturally desirable (some prefabs built after the war are now listed), then it's never going to be an easy sell. If it's really cheap and you like the location, I guess you could always buy it for the land and rebuild something nicer on it.

But, whether you buy it or not, think about issues such as ventilation in these sorts of houses. Some - not all - can be condensation pits. Are there any signs of mould in it?

Could you secure your council property but then perhaps do a mutual exchange into a better constructed property you could purchase?

I believe only certain lenders will offer a mortgage on a Right to Buy scheme.

I'm not sure either issue would be a deal breaker, but worth researching.

Our house is pre fab and it was bricked up in the late 80's. We had trouble remortgaging as the certificate proving it had been done to building regs had been lost. We were able to pay for a new certificate and the bank - halifax - said they wouldnt offer a mortgage without it. I wouldnt buy a pre fab unless i had the funds to brick up but I realise this may not be an option for you