ICF and mortgages

[bissoejosh]

Hi, we're seriously considering using Polarwall for the ground floor level in our new build with timber frame or SIPs on top. Has anyone who used Polarwall or ICF in general had any issues obtaining mortgages? Research suggests that some lenders consider ICF standard construction, others non standard. As a country we seem so far behind in accepting new methods of construction...

 

Given our upper level is timber framed we're keen to keep at least part of the building favorable with lenders if at all possible. If ICF is going to cause headaches it'll be back to block cavity again for the ground floor.

 

thanks

[najem-icf]

Lenders will lend varying degrees on any method of construction.  What differs is the Loan To Value (LTV) - so for example, some ICF's will attract the usual 95% LTV while others may attract a 45% LTV - its all risk related and each Lender decides on how much they want to expose themselves.  Using two different construction methods will probably complicate things with some lenders, while others may not be phased by it at all.

 

The ICFA has a letter on their homepage from the Council of Mortgage Lenders that you may find interesting - http://www.icfa.org.uk

 

Hope this helps.