Non-traditional materials make securing mortgages difficult

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Buy-to-let investors wishing to purchase properties made of non-traditional materials may find it hard to secure a mortgage.

According to Simon Harris of financial advisors Lansdown Place, "the main issue with … unusual homes is durability, and this potentially applies to homes built with eco-friendly materials."

He noted that mortgages are usually sold on the assumption that the property has a very long life ahead of it, but this would change if the life-span was in question.

"Properties built from other 'non standard materials' - for example, concrete, wood, steel framed et cetera - and, increasingly, standard properties in areas prone to flooding and subsidence (given recent events in Gloucestershire and Hull) are difficult, sometimes impossible to finance."

Nevertheless, he pointed out that specialist lenders are increasingly bringing 'alternative' products to market, and that this is "a potential growth area".

In light of this, buy-to-let landlords would do well to keep an eye on the eco-homes market, but be careful when securing a mortgage.

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