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Why are concrete construction mortgages more difficult to get?

Why are concrete construction mortgages more difficult to get?

Many precast reinforced concrete (PRC) dwellings exist in the United Kingdom, the majority of which originate from the 1950s when a huge volume of rapid, affordable social housing was required in the aftermath of the War.

However, these features were found to have flaws in the 1980s. The steel columns that supported the concrete structures were discovered to be degrading, putting the structural integrity of the structures in jeopardy.

 

As a result, many lenders began to refuse mortgages for concrete properties, which were no longer considered suitable collateral for a home loan.

Some PRC properties have likely been "repaired." Lenders look at PRC (repaired) properties differently than non-repaired properties.

Why are concrete construction mortgages more difficult to get?
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