| Loan amount | £455,000 |
| Purchase price | £625,000 |
| Loan-to-value | 73% |
| Property type | ICF construction (insulated concrete formwork) |
| Location | Devon (EX5) |
| Term | 30 years |
| Rate | 5-year fixed |
| Lender type | Specialist non-standard construction lender |
The Story
Fox Davidson specialise in providing specialist mortgage solutions to meet the unique needs of our
clients. In this case study, we present a successful outcome for a couple in Cornwall who sought our
expertise to secure a mortgage for their insulated concrete formwork (ICF) constructed dream
home.
The Challenge
Our clients had recently built a spacious detached family home in the picturesque county of
Cornwall, utilising a specialist construction technique known as insulated concrete formwork
(ICF). With its exceptional energy efficiency, structural integrity, and sustainability benefits, ICF
construction has been gaining popularity across the UK.
Despite the many advantages of ICF construction, our clients encountered a hurdle when they
discovered that some mortgage lenders in the UK were hesitant to lend on properties built using
modern construction methods like ICF. They contacted Fox Davidson as we are familiar with
construction methods and fund both the build and long-term mortgages on modern methods of
construction.
The Solution
Leveraging our expertise and in-depth knowledge of the mortgage market, we advised the couple on
which lenders were open to providing mortgages for ICF properties. Our extensive network of
lenders enabled us to identify those with a favourable stance towards modern construction
methods.
Collaborative Approach:
At Fox Davidson, we believe in building relationships with our clients. We understand the
importance of communication, and good fact finding at the outset. We gathered all of the necessary
details about their property, including its unique features and the ICF construction process, who the
warranty provider was, insurance details etc.
Armed with our research findings, we presented the clients with a range of mortgage options from
lenders who were willing to consider ICF properties. We carefully explained the pros and cons of
each option, helping them make an informed decision. Once they selected the most suitable
mortgage product, we worked diligently to ensure a smooth and smooth mortgage application
process.
Conclusion
Thanks to our specialist approach and extensive network of lenders, we successfully secured a
mortgage for our clients ICF property. Our in-depth knowledge of the mortgage market allowed us
to match their unique requirements with a lender who recognized the value of ICF construction. As a
result, our clients were able to complete their dream home and move in without the stress and
uncertainty they initially faced.
At Fox Davidson, we pride ourselves on providing expert advice and solutions for unique mortgage
scenarios. Our successful case study highlights our commitment to finding innovative solutions for
clients seeking mortgages for ICF properties. If you are planning to build or purchase an ICF property
and require mortgage financing, contact us today. Our experienced team is ready to guide you
through the process and help you secure the ideal mortgage for your dream home.
Frequently asked questions
What is a high net worth mortgage?
A high net worth (HNW) mortgage is assessed under the FCA’s high net worth rules rather than the standard affordability test. It is available to borrowers with net assets over £3 million or annual net income over £300,000. Lenders read the net assets test literally and include the equity in your main home, and on a joint application only one of you needs to meet it.
How does HNW mortgage assessment differ from a standard mortgage?
HNW assessment is whole-of-wealth based rather than income-multiple based. Lenders consider total assets, liabilities, liquidity, income, and lifestyle costs, then negotiate loan size based on the overall financial picture.
What loan sizes are available with HNW mortgages?
HNW mortgages typically start at £1 million minimum and have no upper cap. Loans of £5 million to £20 million are routine for qualifying clients. Loans above £20 million typically involve syndicated lending or relationship-driven arrangements with private banks.
How long does an HNW mortgage take to complete?
HNW mortgages typically complete in four to ten weeks. Mainstream HNW lenders are at the faster end. Private bank cases involving committee approval, complex structuring, or offshore elements can take eight to twelve weeks.
Further reading: residential mortgages, non-standard property mortgages, self-employed mortgage guide, large mortgages.
All rates and terms are indicative and subject to individual assessment, lender criteria and property valuation. Your home may be repossessed if you do not keep up repayments on a mortgage.
Specialist mortgage advice for property professionals, high earners, and HNW clients across the UK.