Property Type: No-Fines
Indicates if a lender can potentially accept applications on properties where the construction type is No-Fines.
Concrete Construction – Large Panel System (LPS)
This method of construction was quite widely adopted in the public sector during the 1950s and 1960s and there are various named types. They comprise both houses and flats (low and high rise) and generally this type of construction is not acceptable to mortgage lenders.
Concrete Construction – In situ Poured Concrete (IPC)
This method of construction was quite widely adopted, mainly in the public sector, but also in the private sector during the post war years through to the early 1970’s. This type of construction may be acceptable to lenders subject to valuer comments on saleability and demand.
IPC construction would normally only be considered for properties up to two storeys in height.
Two of the most common IPC house types are Laing Easiform and Wimpey No Fines. In the case of the former pre-1945 built properties are usually unacceptable to most lenders.
What is Criteria Brain?
Criteria Brain is an online research tool for UK based mortgage advisors. Authorized advisors are able to research mortgage lenders criteria in granular detail across many lenders. Without a system like this, the advisors research phase can often take many hours and for complex cases, days, which results in frustrating delays to customers. Criteria Brain fixes this problem by providing a platform which lenders can upload their rules to, in a format that allows advisors to extract the precise information they need in great detail and very quickly. The information contained within Criteria Brain is for advisor use only but by completing the simple form, you could be speaking to an advisor who can answer this question and many more.