TFIA have produced a leaflet summarising these responses, which includes the three largest lenders in the UK.
The Halifax said that it regarded properly constructed timber framed housing, with a suitable external cladding, as being just as good as housing which is built of brick and block and made no differentiation in the lending terms between either form of construction.
Nationwide and Abbey National gave a similar response, and both said that modern timber frame construction is regarded as being conventional and borrowers would not be at any disadvantage in respect of terms or acceptability with a timber frame house.
This response was also held by insurers and the Association of British Insurers response was that: “Insurance companies generally draw no distinction between modern timber frame and brick and block construction in their premium rate assessment, provided the external roof covering is also of tiles, natural mineral slates or concrete.”
Charles Grant , PR director at TFIA, said: “These responses from the country’s top lenders will reassure any first-time timber frame buyers of the quality and mortgageability of timber frame construction.”
According to TIFA around 11.7 per cent of new build housing in the UK is timber frame, at around 60 per cent in Scotland and 6 per cent in England and Wales.
