Working Hours: Mon - Fri: 9:00AM - 6:00PM
Call Us: 0330 304 3040
Home Mortgage Calculators About Blog
   Back | How it Works
How it Works
Securing an excellent mortgage offer with Revolution Finance Brokers couldn't be easier
1Get in Touch
Complete a quick form to give us an overview of your mortgage or financing requirements, and we'll provide recommendations about the best opportunities for you.
2Submit Your Application
Once you've chosen your preferred mortgage deal, we'll steer you through the paperwork with comprehensive application management from start to finish.
3Mortgage Completion
Revolution Finance Brokers will finalise the details and enable you to move forward without delay!
   Back | About
About
Blog
Contact Us
FAQs
Documents
Areas
Credit Report
   Back | Insurance
Insurance
Business Protection Insurance
Life Insurance
Building Insurance
Home Insurance
Mortgage Repayment Protection
Family Income Benefit
Critical Illness Cover
Income Protection
Life Assurance
   Back | Calculators
Calculators
Stamp Duty
Commercial Stamp Duty
How Much Can I Borrow?
Buy To Let
Bridging Loan
Residential & Commercial Bridging
Mortgage Repayment
Development Finance
Commercial Mortgage
   Back | Choose your mortgage type
Choose your mortgage type
Bad Credit Mortgages
Bridging Finance
Commercial Mortgages
Buy to let
Self Employed Mortgages
Mortgages for Professionals
Lifetime Mortgages
Expat Mortgages
Interest Only Mortgages
Mortgage Affordability
Mortgage Application
Income Types
Residential Mortgages
Development Finance
Property Types
Remortgages
First Time Buyers
Mortgage Rejection
Offset Mortgages
Second Charge Mortgages

Bungalow Mortgages & UK Rates

Discover the best possible mortgage rates on high-demand bungalow properties, with information about variable rates, different mortgage products, and the most popular ways to finance a bungalow purchase.

Bungalow Mortgages & UK Rates

Bungalows are a popular type of home, both for families, those with mobility issues, and retirees who wish to live in a property without sets of stairs to navigate.

However, they are often built with non-standard materials, and therefore can be difficult to mortgage within the terms of many high street lenders.

In this guide, we'll run through the pros and cons of buying a bungalow, and the essential information you need to know before applying for a mortgage.

To start your bungalow mortgage application, give us a call on 0330 304 3040, or email the Revolution team at [email protected].

What are the Advantages and Pitfalls of Buying a Bungalow?

First up, let's consider why you are considering a bungalow, and what the advantages are:

  • Bungalows tend to have a larger floor plan and be more spacious than traditional houses.
  • Homes without stairs are ideal for accessibility, and easier to move furniture into and maintain than larger properties.
  • There is potential to increase your home's value by extending or converting the loft space - which usually costs less than buying a two-storey property.
  • Bungalow plots also tend to be larger, with more generous garden space.

There are also some potential downsides to consider:

  • A bungalow is more likely to have been built with non-standard materials, including pre-fabs and flat roofs, which can be more expensive to insure and result in higher mortgage interest rates.
  • Most bungalows are owned by retirees, which might impact the resale value.

Is a Bungalow a Better Investment Than a Regular House?

A lot depends on what you want from your home, and why you are considering a bungalow. There is plenty of scope to improve on the value of a bungalow, especially if you extend, and currently, there is a lot of demand for single storey properties.

With an ageing population, it seems likely that bungalows will remain in high demand. There are also few properties of this type coming onto the market, as developers tend to focus on townhouses and apartment blocks.

However, if you are buying a bungalow to rent out, you will likely see smaller returns than on a more typical property, and bungalows are less popular on the rental market.

What Factors are Important When Looking for a Bungalow to Buy?

Given the specificity of this type of property, it's well worth considering some essential factors before settling on a property that you'd like to purchase:

  • Is there scope for extending or converting to increase resale value?
  • Does the property need extensive renovations or redecoration?
  • Has the property been made out of any unusual materials?
  • When was the bungalow constructed - and who built it?
  • Have any unusual materials been replaced with standardised options?

Most bungalows will fall into one of the following categories, so if you can find out which one, it may make the mortgage application process much more straightforward:

  • Woolaway bungalows - pre-fabs built on a concrete frame. This type of bungalow isn't particularly energy-efficient as the walls are also concrete panels, without cavity walls, although this can be replaced with insulated brickwork. Woolaway bungalows often require niche lending, and will not be mortgaged through a mainstream provider.
  • Colt bungalows - timber-frames bungalows built from a flat pack assembly, often as a self-build. They are more energy-efficient, often classed as eco-homes, and can be constructed wholly from timber, or with an outer bricklayer. Timber frames make Colt bungalows 'non-standard' but are more comfortable to mortgage given that they are a sustainable home.
  • Dorran bungalows - a pre-fab constructed post-war, made with concrete wall panels and iron pins. Like Woolaway bungalows, Dorran homes can be tricky to mortgage unless the concrete has been replaced with updated materials. Many mortgage lenders will not lend against this type of home, so support from an expert broker is vital.

Can I Get a Mortgage for a Dormer or Chalet Bungalow?

Bungalows come in all shapes and sizes. Chalet bungalows have a converted loft where the bedrooms are located, and a dormer bungalow has dormer windows in this same upstairs area to increase the headroom.

There isn't any primary difference in mortgages for this type of the bungalow, although a lender will need a survey to verify any extension work's structural integrity.

Can I Mortgage a Bungalow in a Park or Lodge?

Many bungalows are called park homes and are located on a bungalow site. In most cases, it is impossible to get a mortgage as space is leased from the site owner who rents out the area on which your bungalow sits.

In some cases, if you are buying the land freehold, you might be able to find a suitable lending product, although this might not be a mortgage.

What are the Lending Criteria for a Bungalow Mortgage?

Lenders will look at lots of factors as well as the property itself on a mortgage application:

  • Deposit - most bungalow mortgages require a deposit from 5% to 15%. Other terms are relatively typical if the property is standard construction, but a non-standard property may require a higher deposit.
  • Credit file - if you have an adverse credit history, finding a mortgage is always more complicated. If the issues are severe, a specialist bad credit lender might be the best option.
  • Age - many bungalows are purchased as retirement properties, or through later life mortgages. These are an excellent alternative to typical residential mortgages where some lenders have an age gap of 75 or 85. However, other lenders have no age limits, and a broker can advise on the most competitive terms.
  • Subsidence - this structural problem can be a severe problem for a mortgage lender. Bungalows are less likely to experience subsidence, but if it is identified, then the repairs can be costly.

Can I Mortgage a Bungalow Overseas?

Bungalow properties are very popular in other countries, and far more common than in the UK. Funding a mortgage in a country where bungalows are the prevalent type of housing can be straightforward.

It's worth noting that bungalow doesn't always have the same meaning in every country, so always visit a property in person or carefully check the listing details!

Expert Advice on Bungalow Mortgages

If you're thinking about buying a bungalow and would like to know what the monthly costs would be, or are interested in comparing the best rates on bungalow mortgages on the market, get in touch with business loan broker.

We are independent mortgage specialists, available on 0330 304 3040, or via email at [email protected].

Further Reading

PROCESS

Explore Our Presence

Securing an excellent mortgage offer with Revolution Finance
Brokers couldn't be easier:

cityam
dailyexpress
dailymail
standard
FT Advisor
LBC
The Guardian
Independent
Metro
Mortgage Introducer
Sky News
The Sunday Times
Yahoo
This is Money
Mirror
LBC
The Sunday Times
PROCESS

Revolution Mortgage Brokers:
100% Independent & Whole-of-Market

As specialist mortgage brokers for a huge variety of applicants, the whole-of-market consultants at Revolution provide access to an exceptional range of lenders, products and mortgage deals. That means you get the advantage of professional negotiation and broker-exclusives through an established lending network to ensure we always find you the most competitive mortgage available.

REFERRALS

Refer, Relax, and get £50

Ask the Expert
Mortgage Brokers

Revolution Brokers
What can we help you with today?
Do you have a particular timescale in mind?
Next
Which situation from the below list best matches your requirements? *
Could you tell us the market value of the property?*
Please let us know a rough idea of your yearly income (before tax) for all applicants? *
Back
Next
Primary applicant name *
Contact email address *
Best contact number *
Back
Next