PRC Mortgages

Looking for a PRC mortgage or PRC re-mortgage? With over 425,000 PRC homes within the UK, we have access to specialist lenders who lend on the following most common types of PRC properties:

PRC homes were never made to last longer than 20-30 years so if you currently own a home or are looking to buy one, necessary modernisation may be required in order to bring the property up to a satisfactory standard and/or meet energy efficiency requirements.

Purchase

We have the expertise to find you the right mortgage products for mortgage and/or repair

In most cases, lenders will not provide a mortgage on a PRC property until it has been repaired and a PRC Certificate of Completion issued. This obviously causes a major problem because you need to buy the house from your Local Authority or Housing Association before the structural repair takes place.

We can provide the necessary mortgage or bridging finance which will cover the cost of repairing the property to a mortgagable standard. The repair will be scheduled to start as soon as the finance is in place (or after the property has been purchased from the local authority). The mortgage funds are released in 2 stages, the first stage release of payment is sufficient to buy your home and the second stage release of funds will pay for the PRC repair, which is released once the Structural Engineer issues the PRC Certificate and the building work is complete.

The lender retains the amount to cover the building repairs and the builders are paid only when the repair work has been completed and the Certificate of Structural Completion issued.

Re-mortgage and PRC House Repairs

If you already own a PRC property, we can simply re-mortgage this for you with the lender releasing a mortgage offer and funds once the Structural Engineer issues the PRC Certificate.

We can supply you with all the information your lender requires for the PRC repair and PRC Certificate.

A brief summary of the works involved:

• 1. Building work is carried out on a fixed price quotation basis
• 2. All work is overseen by independent structural engineers
• 3. You will not normally need to move out of your property. The builders are experienced in working around families living in their properties during the repair process.
• 4. Existing windows and doors are replaced with high quality double glazed units.
• 5. If required, loft insulation can be added in order to increase energy efficiency and reduce monthly heating bills
• 6. If required, it may be more cost efficient to have additional home improvements carried out at the same time

Once completed, your home will be repaired, updated to mortgagable standards, made energy efficient and modernised to present day building/insulation standards.

Call us today for free mortgage advice on both PRC Mortgages & PRC Re-mortgages