Mortgages for WOOD HOUSES

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This topic contains 3 replies, has 4 voices, and was last updated by Profile photo of Woodbug Woodbug 1 year, 1 month ago.

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  • #187531
    Profile photo of Anne
    Anne
    Participant

    Can you tell me which banks will give a mortgage on wood / pre-fabricated /  timber framed houses? …..proper mortgage for a resale purchase, not a personal / building or project loan….. 300,000€  purchase price

  • #187820
    Profile photo of Mark Stücklin
    Mark Stücklin
    Keymaster

    Hi Anne,

    I asked a mortgage broker and he said no lender he knows of would offer a mortgage for prefab housing. Spanish banks like lending on flats in city centres, nothing exotic like what you have in mind. Maybe not impossible, but difficult I guess. Let me know if you have any luck.

  • #187848
    Profile photo of Steve S.
    Steve S.
    Participant

    We are currently planning to build a house and will probably go for timber-framed. I posed the question to my bank manager (Sabadell) about complete timber houses and he didn’t think it would be any problem regarding a new mortgage. Aside from that, he does say yes to everything for us…we are a good business customer as well as having our current mortgage with them so your mileage may vary…

    • #187913
      Profile photo of Woodbug
      Woodbug
      Participant

       

      Hi. We have designed and erected many timber frame houses in the EU including Spain without any problems as MMC (Modern Methods of Construction) have to meet exactly the same codes as any traditional building. There is a distinct difference between a wood prefab building and an engineered timber frame house, in that a timber frame house will be designed under the Eurocodes and meet and beat both the very demanding UK Building Regulations and the Spanish codigo internacional de la construccion. All timber frame buildings have site specific structural calculations prepared to EU standards and are classed as mainstream buildings. Spanish buildings and MMC are light years apart with timber frame having an ecological pedigree second to none with very low carbon emission and passage of sound levels. They are fast to build and much cheaper to build and maintain for the whole of life. While this method of construction is very popular globally as more than 70% of all low-level (up to 7 stories) new-builds are timber frame, Iberia often does not fully understand the concept. All EEC compliant buildings are mortgageable.

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