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.
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22nd March 2017