Why Woolaway Construction Mortgages Are Hard to Secure

Why Bungalows Are Attractive

Bungalows make for pleasant dwellings, and their single-storey construction makes them especially attractive to the elderly and infirm. Since most bungalows were built some time ago, they tend to sit on larger plots and therefore offer a greater degree of privacy. Although they were historically more expensive to build per square foot than a two-storey house, the single floor of a bungalow makes it typically easier and cheaper to heat and keep warm. With fewer staircases, reduced heat loss, and often generous gardens, bungalows remain popular among retirees. Despite this appeal, relatively few are built today, and this imbalance between demand and supply is likely to make a bungalow a sound investment.

The Article is updated as of Aug 19, 2025

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Understanding Woolaway Bungalows

Woolaway Prefabricated Bungalows were introduced in the 1950s by W. Woolaway & Sons Ltd, a company based in Devon that specialised in prefabricated concrete construction. Alongside Woolaway, other non-standard housing types included Reema Hollow Panel, timber frame, and steel frame houses, which were also built in large numbers across England and Scotland. Between 1946 and 1956, Woolaway alone produced thousands of homes. The bungalows were constructed using single-skin precast reinforced concrete panels set into a concrete frame.

Construction Issues

Although innovative at the time, shortcomings became apparent. The single skin offered poor insulation, leading to heat loss and higher heating costs. The use of precast reinforced panels without a cavity or proper block and brick exterior wall meant that damp and durability issues were common. Some of these homes were later added to the United Kingdom’s defective housing list, although Woolaway bungalows themselves were not formally designated defective under the Housing Defects Act 1984.

Nevertheless, they remain classified as non-standard construction. Non-repaired PRC homes, including many built by PRC Homes Ltd, are considered difficult to mortgage, harder to sell, and often in need of extensive remedial work.

PRC Repairs and Certificates

The most common way to improve Woolaway bungalows is through structural repair. Many properties in Scotland and across England have since been remodelled, with the concrete wall panels replaced by a cavity wall design using block and brick exterior wall construction. These upgrades are usually certified by a PRC Engineer, who ensures the works meet the standard requirement for long-term mortgage ability.

Importance of a PRC Certificate

Once the remedial works have been completed, a pre-cast reinforced concrete (PRC) certificate can be issued to confirm compliance. Lenders typically insist on this certification before approving a mortgage. Without it, most high street lenders are unwilling to proceed, as the risk associated with non-standard construction remains high. With certification in place, however, many Woolaway homes can then qualify for conventional mortgage solutions.

Mortgage Challenges for Woolaway Bungalows

Even with certification, Woolaway mortgages can be more challenging than those for standard houses. Borrowers may be asked for larger deposits, face higher interest rates, and undergo more rigorous affordability checks. A detailed structural survey is almost always required, and the outcome of that report can directly influence a lender’s decision.

Specialist lenders such as United Trust Bank are among those that have experience dealing with non-standard construction mortgages. They can provide finance where high street lenders may decline, particularly for homes that have undergone PRC repairs. Independent brokers can also explore equityThe difference between the value of the property and the amo... release options, which may be suitable for retirees wishing to access the value tied up in Woolaway bungalows without selling.

The UK Mortgage Market in 2025

Recent changes in the UK mortgage market add another layer to this picture. The Mortgage Guarantee Scheme was made permanent in 2025, allowing borrowers to secure 95 percent loan-to-value mortgages with just a 5 percent deposit. This is particularly beneficial for first-time buyers, although it does not override the requirement for PRC certification in non-standard homes.

Regulatory Updates

The Financial Conduct Authority has simplified remortgaging rules through its PS25/11 reforms , allowing borrowers to switch products or reduce terms more easily. The Bank of England has also relaxed loan-to-income limits for smaller lenders, boosting competition in the sector. These changes, combined with more flexible underwriting, may help buyers of non-standard homes secure finance where previously limited.

Downsizing Trends

The rising popularity of downsizing has further increased interest in bungalows. By early 2025, downsizing was reported to have risen by over one third, driven largely by older homeowners seeking smaller, easier-to-manage properties. For these buyers, Woolaway homes represent an affordable, if specialist, option once upgraded to modern standards. With equity release and flexible mortgageA type of mortgage that allows the borrower to overpay, unde... products available, they continue to hold a niche place in the housing market.

FAQs – Woolaway Bungalow Mortgage

Can I get a Woolaway bungalow mortgage?

Yes. Mortgages on timber, steel frame, and Woolaway properties are possible, but they often require PRC certification. High street lenders are generally cautious, while specialist providers can be more flexible.

What is a PRC certificate and why is it important?

A PRC certificate confirms that approved structural repairs have been carried out. It is usually issued by a PRC Engineer and reassures lenders that the home meets a standard requirement similar to traditional brick-built houses.

Are there professional services that can help?

Yes. Mortgage Solutions platforms, CeMAP-qualified mortgage advisors, and independent financial advisers. Their guidance is crucial when navigating applications for Woolaway or other non-standard properties.

Are Woolaway bungalows a good investment?

They can be. Many Woolaway bungalows occupy generous plots and are attractive to downsizers. Once repaired and certified, they may be mortgageable and habitable for many decades, although resale can be slower than with standard houses.

Do I need a specialist broker?

Yes. Brokers with expertise in non-standard construction, including PRC Homes Ltd repairs and equity release solutions, can identify lenders willing to consider your application.

Next Steps

If you are considering a Woolaway bungalow, arrange a full structural survey first. If repairs are required, work with a PRC Engineer or specialist contractor to complete the necessary upgrades. Once this has been done, obtain a PRC certificate to satisfy lender requirements. Then, consult a CeMAP-qualified mortgage advisor or financial advisor who can provide tailored mortgage solutions. At NeedingAdvice.co.uk, we work with both high street lenders and specialist providers, offering regular updates and professional service to guide you through the process of financing non-standard homes.