Home owner loan companies make use of your home as safety therefore when you look at the case that is unfortunate you don’t repay your loan, your home could be repossessed.
Securing your loan against a building that is non-standardage.g. One made of anything besides bricks and mortar) could be hard as loan providers see these properties as harder to re-sell it tough make back once again to cover your loan.
Due to this https://badcreditloanzone.com/payday-loans-fl/, some secured loan loan providers have strict financing criteria on structures including:
- Detailed buildings
- High-rise flats
- Tin Roof
- Thatched roof
- Ex-local authority
- Uninhabitable home
- Non-standard construction
- Flats with balcony access
- Steel framework
- Timber framework
A loan against a non-standard construction, make an enquiry and we’ll refer you to one of the property mortgage experts to give you the right advice for more advice on securing.
Can you really get yourself a home owner loan without any home loan?
An property that is unencumbered a home this is certainly owned outright without any home loan or loans guaranteed against it. Continue reading