Equity Release on Steel-Framed Houses

Steel-framed homes fall outside the traditional masonry construction preferred by many mainstream mortgage lenders, but that does not mean later-life lending is automatically unavailable. Equity release on steel-framed houses can sometimes be considered, depending on the construction system, age, condition and the lender’s current property criteria.

There are numerous steel-frame systems in the UK and lenders do not necessarily treat them all alike. A modern engineered steel-frame property can present a different risk profile from an older system, particularly where corrosion, cladding or structural alterations could be relevant.

What will lenders want to know?

Construction type and age

If possible, identify the construction system, year built and external wall finish. Previous surveys, purchase documentation or structural reports can help. Some specialist criteria are more accommodating of particular steel-frame properties, while other systems may need individual referral.

Condition and marketability

The lifetime mortgage valuer will normally consider the frame and external envelope insofar as visible, together with the property’s general condition and local resale market. Where concerns arise, a specialist structural report may be requested.

Can I get equity release on a steel-frame property?

Potentially. Equity release on a steel-frame property should be checked against lenders that are prepared to consider non-standard construction rather than relying on a generic online calculator. Any initial indication remains subject to underwriting and valuation.

What’s your question?

Tell us what you know about the construction, the approximate year built and where the property is located. Get in touch with your postcode and let’s check your particular steel-framed property against suitable lender criteria.

Call David on 07779 819891 or use our Later Life Mortgage Checker and enquiry form.

See our equity release on unusual properties hub.