A London-based company that provides equity release guidance and financing options for properties that are difficult to mortgage has updated its services.
The new services include equity release and refinancing options for properties that are not considered standard within the UK and are therefore difficult to mortgage. This could be because of the way the property was constructed or the materials that were used, including homes built by the British Iron and Steel Federation (BISF).
More details are available at https://www.finance-hub.co.uk/properties-with-a-steel-frame-bisf
This announcement from Finance Hub has come at a time when many mortgage providers are revising their policies and making it harder for UK home buyers to secure a mortgage. This trend reflects global economic uncertainty surrounding the ongoing health crisis, concerns about recession, and issues specific to the UK.
Although both new and existing homeowners are affected by the industry-wide changes, owners of non-traditional properties are, particularly at risk. They may not be able to refinance their property once their initial mortgage term has ended, especially if their situation has changed. Find out more at https://www.finance-hub.co.uk/spray-foam-insulation
BISF homes were constructed at the end of World War II and are considered reliable properties. However, the association between BISF properties and other prefabricated or steel-framed homes not built to the same quality can have implications for both buyers and sellers of BISF homes.
Another issue sometimes faced by BISF homeowners is asbestos, which may be present in the loft space and can negatively affect homeowners when they are looking to sell or refinance. Finance Hub provides a specific service aimed at owners of steel-framed homes. It is useful for those who wish to release equity tax-free or secure a BISF mortgage.
Homeowners across the UK can access up to 60% of the valuation of their home depending on the provider. This can give individuals with long-term financial security or access to funds quickly. It is an alternative to a lifetime mortgage or general equity release.
A spokesperson said: “A lump-sum lifetime BISF house mortgage can reduce your estate value. A steel-framed house mortgage may affect the ability to claim entitlements. You may need to pay a valuation fee and you could have higher rates to pay with some schemes.”
Interested parties are encouraged to visit any of the links provided for more information, or this link https://www.finance-hub.co.uk/external-walls-built-entirely-of-single-skin-brickwork
Name: Grant Howarth
Email: Send Email
Organization: Finance Hub
Address: 329 Putney Bridge Road Putney, London, England SW15 2PG, United Kingdom
Release ID: 89042429