Finding non standard construction equity release lenders can be a real challenge. If you’ve got a property that’s not built from traditional brick or stone, you might discover many mainstream lenders backing away. But don’t worry – options do exist.
I’ve spent years researching this niche market, and I’m here to share what I’ve learned about securing equity release on properties that make mortgage advisers scratch their heads.
What Makes a Property “Non-Standard Construction”?
Before diving into lenders, let’s clarify what puts a property in the “non-standard” category:
- Timber-framed houses
- Concrete panel homes (Wimpey No-Fines, Airey, Boot, etc.)
- Steel-framed buildings
- Pre-fabricated structures
- Thatched properties
- Properties with flat roofs
- Homes made from unusual materials
If your home ticks any of these boxes, standard equity release might have seemed out of reach – until now.
Why Most Lenders Shy Away from Non-Standard Properties
Traditional equity release lenders avoid non-standard construction for several reasons:
- Durability concerns: Questions about how long these properties will remain structurally sound
- Insurance complications: Non-standard properties often cost more to insure
- Resale limitations: Harder to sell if they need to repossess
- Value stability: Concerns about how well they hold value long-term
But here’s the good news: specialist lenders exist who understand these properties better.
Specialist Non Standard Construction Equity Release Lenders
These lenders have developed expertise in assessing non-standard properties:
1. More2Life
More2Life stands out for their flexible approach to construction types. Their “Maximum” range can accept various non-standard properties, especially if they’ve been modernised or improved.
They’re particularly good with:
- Steel-framed houses that have been refurbished
- Timber frames (especially modern ones)
- Some concrete panel constructions
2. Aviva
Aviva takes a case-by-case approach to non-standard construction. They’re more flexible with:
- Thatched properties (subject to proper maintenance)
- Some timber-framed buildings
- Modern non-traditional builds with proper certification
Their “Flexible” plans often work well for heritage properties with non-standard elements.
3. LV= (Liverpool Victoria)
LV= has become more accommodating to certain non-standard constructions in recent years. They’re worth approaching if you have:
- Modern timber frame construction
- Properties with a percentage of non-traditional elements
- Homes with flat roofs (subject to condition)
4. Pure Retirement
Pure Retirement has shown flexibility with some non-standard constructions, particularly:
- Modern steel frames
- Properties with concrete elements that have been repaired/certified
- Some pre-fabricated structures built after 1970
Key Factors That Influence Approval
When non standard construction equity release lenders assess properties, these factors often determine success:
Property Age and Condition
Newer non-standard properties fare better. A well-maintained 1980s timber-frame house will likely be more acceptable than a deteriorating 1950s prefab.
Regular maintenance records can significantly improve your chances.
Repairs and Modifications
Many previously “problematic” construction types have been remedied. If your concrete panel home has been repaired under a recognised scheme (like PRC Homes Ltd), more lenders will consider it.
Keep all certificates and guarantees for any work done.
Location and Marketability
A non-standard property in a desirable area may overcome some construction concerns. Lenders want to know they could sell the property if needed.
Rural non-standard properties often face stricter assessment than urban ones.
Professional Reports
Getting ahead of lender concerns helps enormously. Consider obtaining:
- A structural engineer’s report
- A specialist building survey
- Evidence of similar properties selling successfully nearby
These reports can transform a “no” into a “yes” with specialist lenders.
Case Study: Michael’s Concrete Panel Home
Michael owned a 1960s Wimpey No-Fines concrete home in Yorkshire. Three mainstream equity release providers rejected him outright.
After getting a structural engineer’s report confirming the property’s good condition and expected lifespan, a specialist adviser connected him with More2Life. They approved his application, releasing £87,000 against his £220,000 property.
The key was working with an adviser who knew which non standard construction equity release lenders would consider his property type.
Finding a Specialist Adviser
Standard equity release advisers may have limited experience with non-standard properties. Look for advisers who:
- Explicitly mention experience with non-standard constructions
- Have access to the whole market (not just a few lenders)
- Can provide examples of similar cases they’ve handled
The right adviser is crucial – they’ll know exactly which lenders might accept your property type and how to present your application in the best light.
What to Prepare Before Applying
When approaching non standard construction equity release lenders, arm yourself with:
- Detailed information about your property’s construction
- Any certificates showing repairs or improvements
- Maintenance records and recent survey reports
- Evidence of similar properties selling successfully nearby
- Photos showing the property’s good condition
Being prepared strengthens your application considerably.
Consider Alternative Solutions
If equity release proves impossible for your non-standard property, consider:
- Retirement interest-only mortgages: Sometimes more flexible on property types
- Downsizing: Selling and moving to a standard construction property
- Home improvement loans: To convert elements of your property to more standard construction
Each situation is unique, and sometimes combining approaches works best.
Keep Learning About Your Options
The equity release market evolves constantly, with new products appearing regularly. For the latest information on non standard construction equity release lenders,