The concern of mortgage companies not accepting our revolutionary form of building, occasionally comes up with our clients. We understand that there are many moving parts when it comes to constructing a building and this is one of them that you don’t want to worry about.
It used to be that mortgage and insurance companies only accepted traditional methods of building such as brick and block. The reason for this is that these types of construction were established due to the length of time they’ve been around. However, since timber construction has become more and more commonly used over the decades, it has begun to be accepted by mortgage and insurance companies.
It’s true that Structural Insulated Panel System construction is much younger, but it is a variation of timber building that has been used for decades now. Since SIPS has been proven time after time to be a safe and effective method of building, the system is now mortgageable in line with every other type of construction.
The number of insurance companies who recognise SIPS as a standalone method of construction is increasingly growing. This means that it’s becoming easier for builders to be approved when building with SIPS. Eventually the hope is that insurance companies will recognize the Structural Insulated Panel System as a higher form of construction and push for more and more to be made.
ABOUT MAGWALL BUILDING SYSTEMS.
MagWall is a revolutionary company providing leading-edge home building and insulating through Structural Insulated Panel Systems (SIPS).