Self-build mortgages for timber frame and timber clad

[thaldine]

Hello,

Now that Ecology have suspended their self-build mortgage offerings are there any other lenders who consider timber frame and timber clad builds ?

Thanks.

[G and J]

Our investigations were that having more than 50% cladding on a timber frame house limited options. (We haven't pursued as we were researching for the eventuality we needed to sell in the future to someone who was going to take a mortgage or we decided to take a lifetime mortgage (yes we are getting to that age!), neither of which are what we are planning but never say never).

 

Is it possible to tweak your design? In the end we've reduced the cladding and gone block skin for the ground floor.

[thaldine]

Yes, that concurs with what I've so far found. There seemed to be a few lenders for traditional mortgages (i.e. not self-build) for timber frame and timber clad, which I think many folk switch to after the build, but less so for self-build mortgages.

 

I suppose if you think selling to a mortgage dependent buyer or remortgaging, possibly via a lifetime mortgage, is likely to happen before the timber cladding needs replacing (and hence could be rendered instead) the future options are restricted. In my case I may start failing before the cladding though !

[Mr Punter]

I would avoid timber frame and timber clad at all costs. Very difficult to mortgage, insure or sell.  If it is a planning requirement, go back to them siting changes post Grenfell.  You could suggest cement fibre cladding.

[Alan Ambrose]

I don't get that. We have a barn conversion which is all timber - well apart from the founds, plasterboard etc. It doesn't have a mortgage but we've had no problems insuring it. Also, what do our lovely Scottish members do with their lovely timber framed houses?

Edited November 27, 2024 by Alan Ambrose

[BlairE]

It's definitely possible to get mortgages on timber frame properties. The percentage of timber cladding is what makes some lenders nervous.  BuildStore's range of mortgages (around 60) all work for timber frame properties, as well as many other modern methods of construction. They also have the added benefit of advance stage payments and guaranteed funds when required - with timber frame structures you generally have high upfront costs because you need to pay for the frame before it leaves the factory. They have 12 lenders available - mainly building societies.

[Kelvin]

On 27/11/2024 at 13:36, Alan Ambrose said:

I don't get that. We have a barn conversion which is all timber - well apart from the founds, plasterboard etc. It doesn't have a mortgage but we've had no problems insuring it. Also, what do our lovely Scottish members do with their lovely timber framed houses?

80% of Scottish new builds are timber framed. 
 

We’ve had no trouble insuring ours either (timber framed and clad) In fact we tick all the hard boxes, flat roof, metal roof, timber framed and timber cladding, private water supply, treatment plant. There might well be reduced mortgage options should we come to sell limiting the sales market. I’ll either worry about that in 20 odd years or it’s a problem for the kids to sort out. 

[DownSouth]

There might be a handful who will do mortgages for 100% wood cladding. Bath BS and Darlington BS were able to offer mortgages on our 100% (metal) cladding, offered via Build Store (couldn't get them direct). We really wanted 100% metal but were about to compromise and change to 50% render until we met Tom McSherry at one of the Self Build shows. He was doing 15 minute consultations and by the end of it we were happy that they could get us an advance stage mortgage on it. Don’t regret going with them and now the cladding has started to go on it’s exactly what we wanted.