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  • Buy-to-Let

    Steel Framed Construction - problems?

    pHave been looking at a property with steel framed construction./p
    p /p
    pDoes anyone own a property like this?/p
    p /p
    pHave you experienced problems or would you avoid it?/p
    p /p
    pThe property is in a good rental area but perhaps I would have trouble selling it on as not everyone would lend on it./p
    p /p
    pHistorically property sales in the street have gone for up to 100k and this one if 48k plus refurb. 3 bed with front and rear garden plus parking space,semi detached./p
    p /p
    pIs there anything particular I should look for or is it something you would avoid./p
    p /p
    p /p
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    Avoid, avoid, avoid! But you knew I'd say that anyway!
    Lisa
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    Lisa

    All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client.

    www.keys-mortgages.com
    pLots of multi-story buildings (flats) are use steel framed construction. Hard to go up without steel./p
    p /p
    pI suspect we are not talking about flats. Is the property a detached or semi or something else?/p
    p /p
    p/p
    pJohn Corey/p
    pFollow me on Twitter-> a href="http://www.twitter.com/john_corey" target="_blank"www.twitter.com/john_corey/a/p
    pa href="http://www.ChelseaPrivateEquity.com/blog" target="_blank"www.ChelseaPrivateEquity.com/blog/a/p
    p/p
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    John Corey

    
Share your questions, learn from mistakes & crowdsource answers to your questions -> http://www.propertyfortress.com/community/
    Follow me on Twitter-> www.twitter.com/john_corey
    My blog -> www.PropertyFortress.com/blog
    RE investing discussions happening monthly in London, 2nd Tuesday of the month -> meetup.com/real-estate-advice
    pFridgemagnetman/p
    p /p
    pDont complicate a simple game/p
    p /p
    pThis is easy. 6 rules for these properties.../p
    ul
    liLook at the house./li
    liTurn around 180 degrees./li
    liWalk./li
    liDont stop walking until you can't see the house./li
    liForget all about it./li
    liHave a stress free life./li
    /ul
    pJacob/p
    pWere you serious about asking if there's a list re Schindler properties? Smile/p
    p /p
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    pAnything non standard construction should be viewed with scepticism. Especially in this market; some lenders would be more open to these in the boom but hardly anyone will look at them now./p
    p /p
    pResidential is slightly easier for some construction types but for buy to let you can ignore pretty much anything non standard construction./p
    p /p
    pIgnore the fact that commercial buildings have a steel core; this is not the same as for domestic properties./p
    p /p
    pIf the property was concrete and has been rebuilt with brick then this is usually fine. Existing concrete builds will very much depend upon the construction method as the steel cores are often rotten./p
    p /p
    pTimber frame is a bit of misnomer; if its timer framed with a brick skin this is usually fine with pretty much any lender resi or buy to let. If the property is timer framed and rendered or only partial brick then this can be more of a problem but this can depend upon the type./p
    p /p
    pSome can be fine but this will be down to underwriter referral and possibly valuers comments./p
    p /p
    pThere is one or two lenders who will pretty much consider anything but you will not get above 50% LTV and you can expect rates to be 12% plus./p
    p /p
    pIf you’re in doubt your best bet is to call your local Esurv, Allied or Colleys surveyors and ask them if the construction has caused any issues with lenders./p
    p /p
    pI understand that picking these up at bargain prices and getting high yields can look attractive but you have to ask if the price you’re paying is actually what it’s worth and secondly you should always consider your exit./p
    p /p
    pLisa/p
    pa href="http://www.keys-mortgages.com"www.keys-mortgages.com/a/p
    p /p
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    Lisa

    All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client.

    www.keys-mortgages.com
    pThis is a fairly comprehensive list of NSC properties; if they're on this list it doesn't mean you won't get lending but if it is on the list then its worth getting a surveyor's opinion first./p
    p /p
    pLisa/p
    p /p
    p /p
    p4L Factory Finished Homes Skarne/p
    pA & C Barvis Myton (England & Wales)/p
    pAberdeen Corporation Concrete/p
    pAberdeen In-Situ Concrete House/p
    pAcceptable Property Types Category 2 (acceptable for non-standard plans)/p
    pAdams/p
    pAdams Waller/p
    pAGB Modular/p
    pAGB Modular Unity & Butterley/p
    pAirey/p
    pAirey Wates/p
    pAnchor/p
    pAnchor Dorran/p
    pAnglian Metracon/p
    pArcal/p
    pArcal Wessex/p
    pArcon/p
    pArcon Winget/p
    pArgisol/p
    pArgyll/p
    pArial/p
    pArial Whitson Fairhurst/p
    pArrowhead/p
    pArrowhead Problem Contruction Property/p
    pAtherton/p
    pAtholl/p
    pAtholl (Traditional)/p
    pBalancey/p
    pBalfour Beatty/p
    pBanton No-Fines/p
    pBasingstoke Dev. Group Mitchell Camus/p
    pBeale & Son Modus/p
    pBeanland No 2/p
    pBeaucrete/p
    pBeco Wallform (Polystyrene Block/In Situ Concrete)/p
    pBelfry Myton-Clyde (Scotland)/p
    pBell-Livett/p
    pBellrock/p
    pBellstone/p
    pBirmingham Corporation/p
    pBirmingham Low Rise/p
    pBirmingham Low Rise Dyke/p
    pBISF/p
    pBison/p
    pBison Myton-Solway/p
    pBlackburn/p
    pBlackburn MK 4 Hawthorn Leslie/p
    pBlackburn MK III (Traditional)/p
    pBlackburn MK IV (Traditional)/p
    pBlackburn MK4/p
    pBlackburn Orlit (Scotland) N.C.B./p
    pBoot/p
    pBoswell/p
    pBoswell (England & Wales) Oakbridge/p
    pBraithwaite/p
    pBroadmead/p
    pBRS Type 4 (No Fines/Easiform)/p
    pBRS Type 4 No Fines/p
    pBRS Type 4 No Fines Atholl/p
    pBryant/p
    pBryant Crossframe/p
    pBryant Crossframe Howard/p
    pBryant Wallframe/p
    pBryant Wallframe Keyhouse Unibuilt/p
    pBrydon/p
    pBrydon (No Fines/Easiform)/p
    pBTS Type 4 Orlit/p
    pCamus/p
    pCamus Leeds Corporation/p
    pCamus P.A.C. or P.A.L./p
    pCarey/p
    pCarey Lindsay Type/p
    pCarlton Permabuild/p
    pCarmyle (Traditional)/p
    pCast Rendered (No Fines/Easiform)/p
    pCast Rendered No-Fines/p
    pCebus Polystyrene Concrete Sandwich Panels/p
    pClay Lump (Traditional (Historic))/p
    pClegg/p
    pClugston/p
    pClugston (Traditional)/p
    pClunch/p
    pClunch Livett Cartwright/p
    pCob (Traditional (Historic))/p
    pCobb/p
    pCobb Lowton Cubitt/p
    pConclad (Reema) Ridgeway/p
    pConcrete Block/p
    pCornish 1 & 2/p
    pCornish Unit (PRC)/p
    pCorolite (No Fines/Easiform)/p
    pCorplite No-Fines/p
    pCorvus/p
    pCorvus (No Fines/Easiform)/p
    pCowieson/p
    pCraft Cast Concrete/p
    pCraft Cast Concrete Bell Livett/p
    pCranwell/p
    pCross Wall (Various)/p
    pCrosswall/p
    pCrosswall Malt House/p
    pCruden/p
    pCrudens Skarne SB2/p
    pCurtain Wall (Various)/p
    pCussins/p
    pDare Sectra (John Laing)/p
    pDenis Wild/p
    pDorlonco/p
    pDorran/p
    pDrury System 3/p
    pDunedin (Traditional)/p
    pDuo/p
    pDuo Slab/p
    pDuoslab I (No Fines/Easiform)/p
    pDuplex Foamed Slag House Selleck Nicholls Williams/p
    pDyke/p
    pDyke (England & Wales)/p
    pEasiform Type I (No Fines/Easiform)/p
    pEasiform Type II (No Fines/Easiform)/p
    pEdlo Sir Lindsay Parkinson/p
    pEdron/p
    pEdron (Traditional)/p
    pEx-local authority flats/p
    pFairclough/p
    pFairclough Mucklow Plan/p
    pFidler/p
    pFidler (No Fines/Easiform)/p
    pFidler Birmingham Corporation/p
    pFlats over commercial premises/p
    pFlint (Traditional (Historic))/p
    pFlying freeholds (more than 25% of gross area)/p
    pForrester – Marsh No Fines/p
    pForrester Marsh No Fines Bison/p
    pForrester-Marsh (No Fines/Easiform)/p
    pForrester-Marsh Southend 3M/p
    pFram B.R Stonecrete (England & Wales)/p
    pFram Gerrard Stubbings Ind. Low Rates/p
    pFram Russell Sundh/p
    pG.L.E Tarslag/p
    pGadey/p
    pGateshead Butterfly/p
    pGateshead Butterfly (No Fines/Easiform)/p
    pGateshead Experimental Tarran-Clyde (Scotland)/p
    pGerrard ‘Incon’ Tarran Mark 4 Temporary Bungalow (Scotland)/p
    pGlasgow Foamed Slag/p
    pGlasgow Foamed Slag Myton & Myton Clyde/p
    pGlasgow Foamed Slag Tarran (England & Wales)/p
    pGregory/p
    pGregory Crosswall Houses Taylor Woodrow Anglian/p
    pGuildway (Timber Framed with concrete cladding)/p
    pH.S.S.B. System Truscan/p
    pHall Cottage (Traditional)/p
    pHamish Cross/p
    pHarlow Haddow Tee-Beam (Scotland)/p
    pHarry Neal Battery Cast Tracoba/p
    pHawthorn Leslie/p
    pHigh rise flats/p
    pHilcon Ex (Traditional)/p
    pHousing Development Construction Trento/p
    pHoward/p
    pIncast (No Fines/Easiform)/p
    pIncast House Boot/p
    pIncast Houses/p
    pJemm /p
    pJemm Flatted/p
    pJesperson T.W.A./p
    pJohn Laing Easiform Universal/p
    pJohnstone (Traditional)/p
    pJones & Harvey/p
    pJones & Harvey (No Fines/Easiform)/p
    pKenkast Bungalows 1970s/p
    pKeyhouse Unibuilt/p
    pLA’s Own: Dudley Underdown (England & Wales)/p
    pLaidlaw Thornton/p
    pLaidlaw Thornton (No Fines/Easiform)/p
    pLaidlaw Thornton Braithwaite/p
    pLaing Easiform/p
    pLaing Easiform (No Fines/Easiform)/p
    pLaing/ B.R.S. Unitroy (Scotland)/p
    pLamella/p
    pLamella (No Fines/Easiform)/p
    pLasen & Nielson (T.W.A.) Waller (England & Wales)/p
    pLawrence Crosswall/p
    pLawrence Mk 1/p
    pLawrence MK 1 New Land/p
    pLawrence MK II (Traditional)/p
    pLecaplan Wates/p
    pLeeds Corporation/p
    pLesser/p
    pLindsay (Scotland) Watcon/p
    pLindsay Type/p
    pLive/work units/p
    pLivett Cartwright/p
    pLowe Riley/p
    pLowe Riley Nissen Petren/p
    pLowton Cubitt/p
    pM.F.C Weedon/p
    pMac-Girling Wessex (England & Wales)/p
    pMac-Gregory Whitcon/p
    pMalt House/p
    pMaxim/p
    pMaxim (No Fines/Easiform)/p
    pMaxim Cornish 1 & 2/p
    pMiller 1950 (Traditional)/p
    pMiller 1951 (Traditional)/p
    pMiller 1954 (Traditional)/p
    pMiller No-Fines/p
    pMiller Temporary Bungalow/p
    pMorrell/p
    pMowlam/p
    pMowlem (No Fines/Easiform)/p
    pMowlem Fly Ash/p
    pMowlem Fly Ash Nuttall/p
    pMucklow Plan/p
    pMundic Block (Concrete Block)/p
    pMWM (No Fines/Easiform)/p
    pMyton & Myton Clyde/p
    pNarrowboats /boats/p
    pNew Decade/p
    pNew Land/p
    pNissen Petren/p
    pNo Fines/p
    pNo Fines Colorite/p
    pNo Fines Corolite Cowieson/p
    pNo-Fines (No Fines/Easiform)/p
    pNuttall/p
    pO’Sullivan No Fines/p
    pOrlit/p
    pOssulivan No-Fines/p
    pOsullivan No Fines Cranwell/p
    pParagon/p
    pParkinson Frame/p
    pParkwall-Outinard (No Fines/Easiform)/p
    pPisel (Traditional (Historic))/p
    pPrometo/p
    pPrometo (No Fines/Easiform)/p
    pPrometo Cruden/p
    pReema Conclad/p
    pReema Conclad Orlit/p
    pReema HP/p
    pRepaired PRC/p
    pRiley/p
    pSalick Nicholas/p
    pSalick Nichols Paragon/p
    pSchindler & Hawksley/p
    pSchindler Gohner/p
    pScotcon/p
    pScotcon Orlit Parkinson Frame/p
    pScotconystem 3/p
    pSectra/p
    pSectra (No Fines/Easiform)/p
    pSectra Cussins/p
    pShepard/p
    pShepherd No Fines / Spacemaker/p
    pSkametype/p
    pSkarnetype Reema HP/p
    pSmith/p
    pSolvyt & Brick/p
    pSolvyt and Brick (Newcastle Area)/p
    pSpacemaker/p
    pSpooner/p
    pSpooner Riley/p
    pSSHA (No Fines/Easiform)/p
    pSSHA Cellular Concrete Commissioner Houses/p
    pSSHA Commissioners Resumption Houses/p
    pSSHA Wartime Cellular Concrete Houses/p
    pStanley Black/p
    pStanley Block Schindler & Hawksley/p
    pSteane/p
    pStent/p
    pStone Clad/p
    pStonegate/p
    pStoriform/p
    pStoriform (No Fines/Easiform)/p
    pStoriform Dorlonco/p
    pStour/p
    pStuart Brick Pier & Panel 1951 (Traditional)/p
    pStyrform (Polystyrene Blocks/In Situ Concrete)/p
    pSwedish Timber Framed/p
    pSwidish Timber Framed Smith/p
    pSystem 4L/p
    pSystem 4L Steane/p
    pTarran/p
    pTee Beam/p
    pTee Beam Stent/p
    pTee-Beam (England & Wales)/p
    pTelford/p
    pThain/p
    pThatched roof/p
    pThompson/p
    pTorslag (Traditional)/p
    pTownson/p
    pTrada/p
    pTrada Stonecrete/p
    pTrusteel/p
    pUnderdown/p
    pUnit System (No Fines/Easiform)/p
    pUnitroy (England & Wales)/p
    pUnity & Butterfly/p
    pWaller/p
    pWates/p
    pWattle & Daub (Traditional (Historic))/p
    pWeedon/p
    pWeir/p
    pWeir (Traditional)/p
    pWeir Tarran/p
    pWentworth Modified/p
    pWentworth Modified Telford/p
    pWessex/p
    pWhiltson-Fairhurst/p
    pWilson/p
    pWilson  (Hollow Concrete Block)/p
    pWilson Block/p
    pWilson Trusteel/p
    pWimpey No Fines/p
    pWimpey No Fines (High Rise)/p
    pWimpey No-Fines/p
    pWimpey No-Fines (No Fines/Easiform)/p
    pWinget/p
    pWinget House (England & Wales)/p
    pWoolaway/p
    pWoolaway Bungalow/p
    pWoolaway Underdown/p
    pX.W. (Sellick Nicholls)/p
    pY.D.G./p
    pY.D.P. Systems, X, XXX and Y/p
    p /p
    p /p
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    Lisa

    All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client.

    www.keys-mortgages.com
    pHi Fridgemagnetman,/p
    p /p
    pDo you know what type of steel frame construction?/p
    pA friend of mine bought a house where by the previous owners had built over an existing bungalow with a steel frame following commercial construction methods. Looks like a normal house and can only tell once in the loft, they were able to get a mortgage on it due to architects certificate and detailed drawings / surveyors report./p
    p /p
    pOne thing that is a real issue with steel is the risk during fire, steel warps and buckles in a fire and becomes structurally unstable much quicker than block or some timber frames (hardwood frames), modern steel buildings have to comply with FR90 which allows at least 90 mins before structural failure can occur and is standard for anything 3 storeys or above. (usually sorted with either specific boarding or 3 layers of 15mm plasterboard)/p
    p /p
    pUnless you know exactly how it was built and can view specification etc then I would say stay well clear,  NHBC / BRE and BBA approval does I believe satisfy most lenders but Lisa would know more about this./p
    p /p
    pHope this helps./p
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    pFrom what you describe Kevin (emyou can only tell its steel in the loft/em) then it sounds like it's a brick skin; this is often key to lenders accepting a lot of properties - though not always./p
    p /p
    pLisa/p
    p /p
    p /p
    p /p
    p /p
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    Lisa

    All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client.

    www.keys-mortgages.com
    pHi Lisa,/p
    p /p
    pYes faced with brick etc, in fact they built over and around an existing bungalow, a pretty clever way of retaining what was there!/p
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    pthink it's BSIF - common in some place in the north ie Newcastle etc/p
    pHave spoken to a surveyor from the Halifax - who says the construction is not a particular problem but a full survey does not necessarily show up any problems. ie the steel frame rusting etc./p
    p /p
    pViewing from the loft etc is an indication but only way to know is to take down some plasterboard/cladding./p
    p /p
    pThere can be issue with condensation etc from kitchen affecting the steel but difficult to know until there's someone living there and the problem re-assets itself./p
    pAlso a common aspect of the year of build and construction is asbestos roofing - which most have been replaced/p
    p /p
    pConstruction looks good - another house sold just recently same construction./p
    p /p
    pA 3 bed semi detached./p
    p /p
    pSeems that Halifax,BM etc lend on this kind of steel property./p
    p /p
    pThe plot thickens/p
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    pBSIF - I would steer clear of these, not certain but I think these are the 1960's ones that were coated with lead paint or bitumen paints, known I think for rusting./p
    pThe exterior's were clad with metal sheeting so the issues with condensation you mention above are a real problem, today breathable membranes would be used to avoid all this plus powder coating of stanchions./p
    p /p
    pLike a lot in 60's these were built quickly on the cheap and I think the BSIF in particular were prototype homes./p
    p /p
    pWalk away!/p
    p /p
    p /p
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