Hi all, has anyone successfully got a mortgage from natwest on a bisf property?

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Hi Jenny
Nat West is not a lender that I hear of frequently regarding BISF mortgages so I thought I would do some digging as to their current lending criteria. (see Below)

Property Types / Properties Nat West consider

Providing the valuer confirms their saleability and suitability for mortgage purposes, Nat West can lend against the following:

No-fines concrete construction.
Steel framed houses.
100% timber construction.
Properties containing high alumina cement.

(You can see above that they do consider Steel Framed Houses, however if you read below, you will also see that they state they do not lend on Steel Clad Houses, so it would appear that if the house you are
looking at still has the original steel cladding attached to the upper first floor, then it would suggest that they are not willing to lend on the property. This is quite a shock considering they are willing to lend on homes built from no-fines concrete which represent a far greater risk than a standard BISF construction. It appears that they may be lumping together all steel clad buildings into one category, including temporary prefabs and poorly built steel clad bungalows, when of course the BISF house is a different build altogether. I would ring Nat West directly and ask to speak to the mortgage underwriters who should be able to clarify if a BISF house falls into the steel framed or steel clad house category)
NB. Some results have been omitted.

Properties Nat West will not consider

Properties listed under the Housing Defects Act (valuers will advise us if the property falls within the Act).
Steel clad houses.
System built concrete construction.
Prefabricated/(pre)reinforced/poured or shuttered concrete construction.
Easi-form construction (except by Laing from 1945 onwards).
Properties built on contaminated land.
Timber framed property with cavity wall insulation unless installed during construction.

I hope this helps Jenny and please let us know how you get on.


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