Kent Reliance now accepts Modern Methods of Construction

Kent Reliance for Intermediaries will now accept Modern Methods of Construction (MMC) following a review of its current lending policy.

Having looked into the many methods of modern construction, the lender has decided to accept MMC as an acceptable property type, so long as it is supported by a Buildoffsite Property Assurance Scheme (BOPAS).

Kent Reliance defines MMC as a modern construction type that comes in many different forms, ‘but in general terms is regarded as any type of construction that is not of traditional masonry block and brick construction’.

It gives the following examples of MMC:

  • Volumetric construction: three dimensional units which are fully fitted offsite and transported to site by crane.

  • Pods: bathroom and kitchen pods created offsite and then fitted into the development like a jigsaw piece.

  • Site-based MMC: innovative methods of construction used onsite such as thin joint blockwork and insulated framework.

Properties built via MMC will be subject to Kent Reliance’s standard terms and interest rates.

 

Make sure you don't miss any updates!

>> Sign up to our weekly newsletter

 

You may also be interested in:

FAQs on Ltd Co borrowing for buy to let
Frequently asked questions on limited company borrowing for buy to let mortgages.

Setting up an SPV Limited Company 
Buy to let lenders which offer mortgages to limited companies usually require the limited company to be an SPV (Special Purpose Vehicle). Jeni explains what one is and how to get one.

Stamp Duty FAQs
Jeni answers the most commonly asked questions around SDLT - including information on mixed use properties and non-residential Stamp Duty rates.

Author