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ICF and traditional construction


LSB
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We are considering ICF for our build, but one of the first considerations is future mortgages.

Although we don't intend to sell as this is our forever home we are getting older so forever may not be that long.

 

If we do need to sell, will buyers be able to get a mortgage easily on an ICF home or does this come under non traditional construction.

 

I guess that they may be able to go to specific lenders, but this may put buyers off.

 

Of course as this is unlikely to happen for 10 years I'm potentially worrying about nothing.

 

Thanks

 

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In my opinion, yes, it may be a problem. Our easily reached, and cheap morgage lenders do not like anything that is not standard masonary. Others on here will say it does not matter, but it does. Pick a few morgage brokers close to you, and they will tell you the same as i am. The other thing that would concern me is is somebody has an existing morgage and wanted to port it over to your property......That could be a problem, and could put some purchasers off.  My research is what put me off building a house from timber I-beams. In my opinion, there are tons of better ways to build house than masonary, but the lenders do not seem to have moved on.

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I’m surprised you didn’t get more replies. Non traditional is anything not made of brick or stone. Modern Method of construction MMC is what most on here are most likely building anything that is partly built off site, SIPs, timber frame, pods, cross laminated and ICF to name just a few. If you speak to a mortgage advisor they should tell you it’s not as simple but certainly not hard either. It always depends on the amount of equity and the borrowers circumstances, that can be far harder than an MMC. 
The older interwar years of concrete built homes might be harder but they still sell well in the right area. ?
 I’m definitely not worried ICF for me in another few years MMC might be the norm. 

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This what the Durisol manual says.

 

17. Mortgage and Insurance Mortgage
The Valuation Panel of the Council of Mortgage Lenders has confirmed that ICF (Insulating Concrete Formwork) construction is acceptable for mortgage purposes as a standard form of construction, subject to provision of valid product certification and monitoring of ICF System providers by the ICFA (Insulating Concrete Formwork Association) of the UK.
Durisol UK is a full member of the Insulating Concrete Formwork Association (ICFA) which is a UK Trade Association founded in 1992 to promote ICF as a concept in the UK construction market.

 

https://icfa.org.uk/building-with-icf/mortgages/

 

 

 

 

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