Introduction

Tin is one of the cheapest materials available and it has been around for ages. Although there are now many other stronger metals available in the market and even non-metals like asphalt shingles and ceramic tiles for roofing material, tin roofs have been used most widely for hundreds of years in UK. Why?

Tin is not only one of the most abundant metals on our planet but it is also the cheapest. A tin roof is extremely durable in harsh environmental conditions. Unlike a strong steel roof, it does not rust after a few days in the rain and is resistant even to salt. It can even withstand acid. That’s why it is quite popular among people living close to industrial areas and the sea. Since tin is one of the most abundant metals on this planet it is easy to acquire and thus has reached even the most backward of human settlements.

But what do mortgage lenders think of tin?

The mortgage lenders in the UK are fighting for the business as the market continues to expand at a steady rate after the recent downturn. The fact is, today you are able to find finance on a variety of properties rather more easily than a couple of years back.

Even so, sometimes it is hard to say whether or not you will get a mortgage on a tin roof house in the UK. It will depend solely on the mortgage provider and the condition of the house in general and the roof in particular. On many instances in the recent past, people who had tin roofs on their domestic properties were able to get mortgage. The lenders, in such instances, will ask a technical expert to conduct a detailed examination of the roof to determine its present condition. In the end it all depends upon the mortgage provider who would be asking for this anyway.

The lenders also consider other factors like the location, the borrower’s creditworthiness etc. while deciding whether to offer a mortgage on a house with tin roof. If the house is located in comparatively upmarket location it is more likely to find favour with the lender. Similarly, a good credit history comes handy in such instances as always. But, as a rule, the interest rates charged on houses with tin roofs tend to be at least one percentage point higher than similar houses with solid roofing.

Conclusion

While it is possible to get mortgage for a house with tin roof, it is not as easy as for one with a solid roof. You may have to approach multiple lenders, go through a lengthy process that evaluates the condition of the roof and house and finally pay a higher rate of interest on the mortgage. If your house is located in a premium locality and your credit history is not bad, your chances of obtaining a mortgage are higher.

If you don’t know there is a global credit crunch, you must have been living on another planet. And if you’re trying to buy a house or get a mortgage, you will be only too aware of its effects on the mortgage market.

Some people decide there’s no point in even looking for a mortgage. Others, especially first time buyers, are completely confused about where to go for a good deal. If you are one of these, it’s really important to get mortgage advice.

Because of the increased sophistication of the mortgage market it is wise to seek advice from either an independent mortgage broker or financial adviser when searching for your next home loan.

Independent mortgage brokers have specialist software that can scan the entire mortgage market in minutes, helping them to provide quality mortgage advice that will help you choose the right product for your individual circumstances. The right mortgage advice can help you save money over the term of the loan, whether it is for a buy-to-let property or your own home.

The industry changes inspired one mortgage broker to come up with a new service – offering advice for borrowers with loans in process for a small flat fee.  The company, Trusted-Mortgage-Advice.com offers to review a borrowers mortgage documents for the loan in process and help them negotiate the best terms with their lender.  It’s a unique twist for a mortgage professional – no bait and switch, no “I can do better” – instead it’s that second opinion that most borrowers go to their friends for.

With so much uncertainty, so many changes, and so many “bad faith” stories out there I think there is a real need for borrowers to get independent, third party mortgages advice.  So many times in the process borrowers call their friends or family to find out if they are getting a good deal – or if what the broker is telling them make sense.  So going to another lender only assures they promise to beat your current deal.  With Trusted-Mortgage-Advice.com they will give you that second look to make sure you get the best deal possible.