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Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.19%
Rate type: Fixed Nov-2019
Monthly cost: £389.37 per month
Max LTV: 60%
Product fee: £1423.00
Overall cost for comparison: 3.5% APRC
NatWest logo 1.19% Fixed Nov-2019 3.5% APRC 60% £1423.00 £350 cashback £389.37 per month get quotes Call direct0800 158 2934 More details
Initial rate: 1.19%
Rate type: Fixed Nov-2019
Monthly cost: £389.49 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
Royal Bank Of Scotland logo 1.19% Fixed Nov-2019 3.5% APRC 60% £1273.00 £350 cashback £389.49 per month get quotes Call direct0800 096 7447 More details
Initial rate: 1.19%
Rate type: Fixed Nov-2019
Monthly cost: £389.49 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
Royal Bank Of Scotland logo 1.19% Fixed Nov-2019 3.5% APRC 60% £1273.00 £350 cashback £389.49 per month get quotes Call direct0800 096 7447 More details
Initial rate: 1.19%
Rate type: Fixed Nov-2019
Monthly cost: £389.37 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
NatWest logo 1.19% Fixed Nov-2019 3.5% APRC 60% £1273.00 £350 cashback £389.37 per month get quotes Call direct0800 158 2934 More details
Initial rate: 1.24%
Rate type: Fixed Nov-2019
Monthly cost: £391.69 per month
Max LTV: 70%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
NatWest logo 1.24% Fixed Nov-2019 3.5% APRC 70% £1273.00 £350 cashback £391.69 per month get quotes Call direct0800 158 2934 More details
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Mortgages for Timber Framed Houses

Our Mortgage Service for Timber Framed Houses

Getting a mortgage if you have a house which is timber framed can bring with it a range of complexities when arranging mortgage finance. Our mortgage service offers:

  • Whole of market service - we work with most UK lenders who will consider lending on wooden framed properties
  • Access to leading market mortgage rates 
  • Access to exclusive mortgage deals not available on high street
  • Specialist lenders who will lend on wooden framed construction
  • Fast turnaround - speak to us today if you need to move quickly
  • We have lenders who will take into account previous credit issues 
  • Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of innovative finance solutions

"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. 

As your mortgage is such an important transaction, good advice is imperative.

Right Bullets

Mortgages for Timber Framed Construction

If you are purchasing an existing timber framed house – whether it’s a Tudor cottage or a modern construction - you could face difficulty securing a mortgage on the property. This is because timber framed building are classed as being of a non-standard construction, which means that some lenders may be more reluctant to offer a mortgage deal for this type of property than they would be for a house made of bricks and mortar in the traditional fashion.

Getting the right mortgage for a timber framed house

One of the key reasons that some standard mortgage lenders will refuse to offer mortgages on timber framed houses is that they fear the non-standard construction materials will affect resale value.

Essentially, mortgage lenders want the reassurance that, in the event that they need to repossess the property they will be able to sell it quickly and easily to recoup the money owed.

However, there are several advantages to a timber framed house. Firstly, they can be extremely eco-friendly and well insulated, especially modern buildings. Secondly, they have a unique character which many prospective buyers find very appealing.

What criteria will be considered when applying for a mortgage for a timber framed house?

Fortunately, there are plenty or mortgage providers who specialise in offering mortgage deals for harder-to-mortgage properties such as timber framed houses. If you apply for a mortgage for a timber framed house then the potential lenders that you approach are likely to take into account certain criteria such as:

  • The state of the timber framed building – you may be more likely to get a mortgage deal on a modern or well-maintained timber framed house than on a dilapidated timber framed property that requires restoration
  • The structure of the building - a comprehensive survey is likely to be required in order for a mortgage for a timber framed house to be approved
  • The intended financing of any renovations that may be required – some mortgage providers will only lend on timber framed properties that do not require any work, while other providers may offer you a mortgage in instalments to help you cover both the purchase of the house and the cost of building materials
  • The status of the timber framed house – if the timber framed house that you proposed to purchase is very old, or of a unique design, it may be a listed building, which may affect your mortgage application. It will also restrict any amendments you may be planning to make to the property.
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