Mortgage Acceptance for BecoWallform
Back in February 2010, Insulated Concrete Formwork (ICF) became officially recognised in the UK as a standard form of construction by the Valuation Panel for the Council of Mortgage Lenders.
Now a part of UK Finance, the CML established two conditions that ICF system suppliers have to meet in order to benefit from this acceptance. Firstly, the ICF system in question must have valid third party product certification. Secondly, the ICF system’s manufacturer must belong to and abide by the monitoring requirements of the ICFA, the UK’s Insulated Concrete Formwork Association.
In our case, BecoWallform has carried third party product certification since 1998. You can download our current BBA certificate (British Board of Agreement) from this website. Furthermore, Beco Products Ltd is a founding member of the ICFA and has been a member ever since helping to establish the Association back in 2002 in partnership with The Concrete Centre.
Here is a copy of the Council of Mortgage Lenders letter.
Specialist Mortgages for Self-Build
For anyone looking to embark on a self-build project, finance is usually a major consideration regardless of the method of construction.
Besides the various products offered by the normal high-street mortgage lenders, specialist self-build mortgage services now also exist, specifically designed for those looking to build their own home. BuildStore, among others, offer a number of flexible products for self-builders including their ‘Accelerator‘ and ‘Cost Based Stage Payment’ Mortgages.
Accelerator is unique in that it gives you money before each stage of your project starts meaning you have the cash to pay for labour and materials before the work begins. What’s more, with Accelerator you can borrow up to 95% of the cost of the land and up to 95% of your build cost and your stage payments are not subject to confirmation by a mortgage valuation at each stage (although some lenders reserve the right to ask for an interim valuation later in your project to check on progress). With an arrears mortgage your lender will require a valuer to visit the site at the end of each stage and submit a report to the lender before they will release any money.
You can find out more about BuildStore’s products and services at the BuildStore website.