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Hello,
I am the new member and got some questions.
With my husband we are first time buyers in process of buying a steel frame house.
Everything was fine until surveyor carried out a valuation for mortgage purpose and in report he wrote:
“The property is not considered suitable security due to limited mortgage ability due to construction type and condition of the steel frame and cladding together with saleability”
” The property requires renovation and repair, including refurbishment of the fabric, fittings and services.
There is a tree approximately 1 meter from the property. Whilst no associated damage was noted, trees can cause problems to structure and services on or within shrinkable subsoils.”
In this situation we were refused a mortgage from our lender.
And my question is:
How could he stated the condition without looking at the steel frame. Is the frame visible from outside and he could see the corrosion?
The other thing is that vendors carried out external survey 5y ago and the result was good.
We have no idea what to think about our survey and can we complain about it or ask them to re consider valuation showing them vendor’s report?
We are waiting for any advices!

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Hi Ed & Marc,

Thank you soooo much for very quick reply:)
I think I will get crazy with this house:)
So I studied yesterday evening our Valuation Report and under point 4A construction type surveyor ticked steel frame which is right but under the 4b Main Roof is written PITCHED AND TILED!Is that mean the roof is not asbestos??? Surveyor mention about asbestos at point 6 which applies to Garage- DETACHED, CONCRETE PANEL, ASBESTOS.
I will be so grateful for answer and explanation 🙂
Have a great day everyone!

Agnes

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Hello Agnes
Santander do sometimes have slightly different lending criteria depending upon the office or underwriter who is looking at your mortgage application.
Some properties with an asbestos roof have been rejected whilst others have been accepted. I myself have a property mortgaged with Santander and at the time of purchase around 10 years ago my application went through without any problem.
The most critical part of buying any BISF property is to use a surveyor who understands and is familiar with this type of house. Otherwise as you have already found out, you may be throwing your money at a useless survey,
I don’t think you need a full structural survey unless Santander requests one. You could undertake a typical home buyers survey first and use this with your application. If this is successful you could always order a structural survey before you sign on the dotted line as it will give you much more piece of mind and identify any possible defects.
The reason I say this is because a structural survey may bring up more problems which could give Santander cause to reject your mortgage application. Yet they may accept your application with a homebuyers survey which wouldn’t look so deeply into the property.
I would suggest that before you do anything, you should contact Santander and ask to be put through to their Mortgage team or even the underwriting time and simply ask if they will lend on a BISF property with an asbestos roof.
If you prefer I can always contact them for you, at least then you can find out if it is worth applying.
I hope this helps
Marc

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Hello,
Thank you so much for your advices!!! This is a great web!!!
We found out that Aldemore bank don’t deal with BISF houses.
We can’t process with Halifax because they want us to proof much more higher incomes!!!
So we have to try with Santander . Ive spoken today with estate agent and he confirmed that surveyor had no experience and is no familiar with this type of houses. and construction. We were advised by him to do a structural survey which might be pricey but it should clarify our worries. But before we will pay for the survey we have to know whether Santander accept asbestos roof- we got it! Otherwise there will be no point to carry out structural survey. Does anybody know this? And if we have been refused mortgage from Santander will they reconsider or accept the structural survey and will go ahead with our application? do we have to hire a surveyor for structural survey? How does it look like?
I would appreciate any help from you!

Thank you!
Agnes

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Here’s a link to Aldermores lending criteria. You can download the full pdf at
http://www.aldermore.co.uk/media/480732/arm13-1013-300054_outline.pdf

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Hello Agnes
Sorry to hear you are having problems with your survey and lending company.
From a survey aspect this is as Ed says an all too common occurrence simply due to the surveyor not being experienced in BISF construction. Without reading your full report I may even suspect that the surveyor here may have even assumed that the house was listed defective under the housing act, when of course it is not. As you say there is simply no way he would be able to state the condition of the frame without a full inspection.
You could try Halifax as Ed suggests, you could also try contacting the Santander underwriters directly and discussing your concerns with them.
In fact on my first purchase of a BISF house, mine was wrongly classed as PRC construction, defective and hence declined but I contacted the surveyor and underwriters and eventually got it sorted.
There is nothing to stop you contacting the surveyor and asking him how and why he came to those conclusions, you paid him so you should expect a right of reply.
As for Aldermore, I know they wont lend on Non-Traditional properties under certain mortgage terms such as under the Help To Buy Mortgage Guarantee but I think you may lend under standard mortgage terms.

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Hi Ed,

Thank you very much for your reply. Our lender was Santander. Now our broker is trying via Aldemore bank but we have no information yet.
I am not surprised that some surveyors hasn’t got relevant experience we were advised of it by our friend who is surveyor.
When we were viewing the house we didn’t see anything worrying. My husband is a builder and he paid a lot of attention for any cracks etc.
Would you advice us to carry out the structural survey( I mean more advanced then survey has done for mortgage valuation?) . From report we found out that we got asbestos roof as well.

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Hi,
Thank so much for your advices!!! I really pleased I have found this web which is very helpful.
I will let you know or rather ask you if something clarify.
Thank you!!

Agnes

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Hi and welcome Agnes. May I ask who the lender was? Some (mainly smaller lenders, not the big high street names) will not lend for a BISF house. It is only possible to assess the condition of the steel frame in the areas most prone to corrosion by means of an invasive survey, that is by making holes in the walls, usually from the inside. However, one can see some of the frame in the loft, but this area is less prone to corrosion. Cracked and failing render on the corners of the house can also be a sign of frame corrosion.

Our house was declined by Nationwide because of its asbestos roof. I got hold of Halifax’s main valuer in the area and he was familiar with BISF houses (many surveyors are not) and sent him the Nationwide report and he could immediately say that based on it they would not have a problem with it. I would recommend trying to make sure the surveyor/valuer is familar with BISF construction.

Ed

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