BuildWright are delighted to share details on a banking partnership with PTSB to provide mortgages for BuildWright modular concrete homes.
Modular Green Mortgages
PTSB bank said that customers buying a BuildWright modular home qualify for its Green Mortgage fixed lending rates which range between 3.35% and 3.8% – depending on the loan amount, term required and Loan to Value (LTV).
The concrete modular homes are delivered with 90% of the build completed offsite in a controlled factory environment – including windows, doors, kitchen, internal finishes – and introduced onto the home site itself for assembly.
This is in contrast with self-build homes, which are constructed entirely onsite and can be subject to variable cost inflation and potential construction delays.
Market Leading Solution
PTSB’s Chief Retail Banking Officer, Patrick Farrell, said its mortgage offering for modular homes underscores the bank’s commitment to providing market-leading solutions to support housing delivery.
“The modular one-off build segment is a targeted and developing area of the housing market. By partnering with BuildWright, we can provide more choice for would-be homeowners, particularly for people who wish to live in rural areas,” he added.
BuildWright’s Managing Director Stephen Wright said the housing market is currently very challenging with demand significantly outstripping supply, so new solutions are required to broaden the availability and choice of new homes.
“PTSB is a market leader and so it is refreshing to see a leading Irish bank embrace the advantages that modern construction methods can offer,” Mr Wright said.
“We look forward to continuing to transform and enhance the home-building journey for many customers in the years ahead, confident that in PTSB we have an outstanding partner for the funding requirements involved to provide new modular homes,” he added.