Prime time to invest in alternative property
Although mainstream lenders continue to use tighter lending criteria for buyers of non-standard construction, such as a thatched cottage or timber-framed construction,Cheshire Mortgage Corporation believes that there is still opportunity for specialist lenders to step in to revive this niche part of the market.
Nick Jones, national sales manager at Cheshire Mortgage Corporation, said: “A non-standard construction or one in need of a refurbishment is usually less expensive than a standard home, so could be a good consideration for homebuyers when looking for a property.
“With the relaxation of planning rules also coming into effect, homebuyers can also consider renovating such a property to make it the home of their dreams, or even to sell for a profit in the future.”
Opportunities in the property market remain for home buyers and Cheshire Mortgage Corporation believes there are products provided by specialist lenders that are flexible to the needs of the modern homebuyer, regardless of the type or condition of the property they are purchasing.