Single Skin Wall Property Mortgages

You’ve fallen in love with a single skin wall property and want to know if you can get a mortgage. Don’t panic. It’s possible, as long as you follow the proper steps.

This guide will provide all the information you need to know about mortgages for single-skin-wall homes and how to get one.

It will cover everything from the different types of single skin brick wall properties to finding the best mortgage rates and the eligibility requirements.

It will also explain how to match with a broker to ensure the best possible start to your application.

Can you get a mortgage on a single skin brick wall property?

Yes, you can! It may not be straightforward, but with the right advice, there’s no reason it can’t be possible.

Single skin wall properties and single brick constructions fall under the non-standard property niche. This means that fewer mortgage lenders will be prepared to offer you a mortgage.

The following are the main types of single skin properties:

Getting a mortgage on a non-standard construction can be complicated, as the mortgage lender needs to understand the risks before considering any mortgage application.

If the property you’re interested in has any of these elements, you will need to seek specialist mortgage advice. We can help with this.

We can match you with a broker who specialises in single-skin property mortgages. They will maximise your chances of getting approved for a mortgage and securing the best interest rate available.

The difficulties you might face

Certain safety issues are associated with these properties. New builds no longer use the single skin wall method, as it does not meet modern building regulations.

It is also becoming rarer for mortgage providers to lend if the whole property is a single brick construction, or even if two storeys are affected.

Because of these issues, many lenders are worried about the resale value of these properties. They fear they might not be able to recoup their investment in the event of a repossession.

However, many lenders rely on the surveyor’s final decision on the security and future value of a property, so you may still be in luck.

How a broker can help you get a single skin mortgage

Getting a single skin mortgage is a tricky process. A broker will take the stress out of the process and guide you through it, maximising your chances of getting approved and finding the best rates possible.

Anyone can look at high street banks and their mortgage rates. However, as single brick mortgages are non-standard, many banks won’t offer them, and those that do may not offer their standard rates.

A broker has access to the whole market and, therefore, can find lenders you wouldn’t necessarily encounter on your own.

They also have access to exclusive deals and are experienced in negotiating rates, which could prevent you from paying unnecessarily high rates.

Starting your application

There are some simple steps you can take to give you the best chance of getting a mortgage on a single skin property approved the first time.

1. Get your documents ready: Lenders will want to see proof of identity, at least three months of bank statements, among other documents. You can find a full list of the documents you’ll need in our guide to mortgage applications.
2. Get a surveyor/valuation: For single brick properties, lenders will place even more importance on the surveyor’s report, so you might need to use a specialist in non-standard properties.
3. Speak to a mortgage broker: You’ll need a broker who specialises in non-standard properties as they have the knowledge, experience and lender contacts to help you get approved first time and land a favourable interest rate. What’s more, they will guide you through the application process and advise you on what kind of surveys you need.

Eligibility requirements

With non-standard construction properties, lenders can be stricter on the eligibility requirements.

Here is the criteria you’ll need to meet to get approved for a mortgage…

Lenders’ appetite for single brick mortgages

While some lenders are wary of granting mortgages on non-standard property types, quite a few will still consider your application.

For example, the following lenders grant mortgages for single skin wall properties…

• United Trust Bank
• Together
• Beverley Building Society

The rates vary depending on how risky the property is deemed to be. However, as a guide, Together offers 5.69% on a 5-year fixed deal, with a maximum LTV of 60%.

A lot of well-known banks, including HSBC and NatWest, don’t offer these types of mortgages. This means a broker can add even more benefit, as you may not be as familiar with the potential lenders.

What if your property has a single skin extension?

Getting a mortgage on a property with a single skin extension can be easier than when the whole property is affected. This is because the risk is deemed lower if the non-standard construction only applies to part of the property.

Some lenders, like TSB and Nationwide, will only consider applications on extensions.

TSB only considers applications if the single skin is part of a one-storey extension. Nationwide is slightly more flexible and will consider extensions up to two storeys high.

Get matched with a non-standard construction specialist today

Getting a mortgage on a single skin property is not always straightforward. To maximise your chances of getting the best deal, you should speak to a broker specialising in non-standard construction properties.

This guidance will prove invaluable throughout the process.

We can help with this. We work with brokers who are experts in single skin property mortgages and they help people just like you secure this type of specialised lending every day.

So, give us a call on 0330 822 0505 or make an enquiry, and we can arrange for a free, no-obligation chat between you and your ideal mortgage advisor today.