Concrete build and mortgages

[Pegs11]

Hello, we have seen a house we would potentially like to buy, but the estate agent says it “may” be difficult to get a mortgage as it’s a “concrete system build”. But they don’t seem to have any more information, like, the precise type of concrete system build (I believe there are a few types and mortgage lenders will lend on some but not on others). As the estate agent is being so vague, I don’t know where else I can go to get the information I need before potentially making an offer on the house. Does anyone know how I can find the information? Thank you

Ahhh we have some of these near us. I think the building insurance is the problem , which in turn makes the mortgage a problem. Have you got a mortgage in principal? Could you ask your lender? The properties in the street near us do sell (so must be possible) but for a lot less , possibly as it’s harder to get a good rate

I’m quoting this from Moneyfacts Concrete limited lifespan – Properties with a concrete construction (including reinforced concrete) need to be closely inspected as they get older. Concrete tends to crumble as it ages, especially as the steel reinforcing rods used when they are cast in place start to rust and deteriorate. All this can happen without much evidence of it being visible on the surface, requiring intrusive survey methods to detect. For this reason, properties with a concrete construction are often viewed as ‘high risk’ by both lenders and insurance companies, with some refusing to deal with them at all.

Unless it's an unusual, one of kind property a local EA should know what specific type it is as there are usually streets of them. If they really don't know, ask them to clarify with the seller.

The problems with concrete houses usually come from issues with the steel frame inside the concrete slabs.

Thank you all for your replies... it sounds like concrete builds come with a lot of complexities, I’m probably best off out of it :)

Shame because it was a lovely house - and cheap! But I guess there’s always a catch...

Old listings of neighbouring houses may reveal the information.

There is a lot of Reema houses where I grew up. They tend to sell very fast for about 60% of the price a more normal construction would. A family friend has 40 of them, they rent out at normal market rate but with significantantly lower purchase price if you don’t need a mortgage.