What Is PRC Property

Non-standard construction properties / PRC Properties.

Mortgage lenders do not like PRC Property and generally refuse to lend unless repaired. Be wary of dealing with PRC / non-standard construction properties. There are ways around this but you need to instruct an expert.

What is a PRC Property?

PRC is Precast Reinforced Concrete or Non-standard construction. No longer popular but it used to be. It was cheap and quick to put up. For a time it was all the rage. As time passed issues arose and it fell out of favour. These properties may also be called Airey PRC Homes or Woolaway PRC Homes.

What is the Problem?

Lenders do not like it as it could affect their security. Property value could drop. Lenders do not like that. They want unwavering protection. A lender will only give you the mortgage funds if the property you are buying is going to be sufficient value if they need to repossess. They also do not want to have expensive repairs to deal with before they can sell and recover their funds.

Why Is PRC Problematic?

• It is prone to failure and concrete cancer!

• Resulting in expensive structural work

• Which must be carried out by a specialist

• This can mean loss of value

• There may be difficulty on resale or remortgage

• Buyers cannot mortgage it

What is Concrete Cancer?

Concrete Cancer occurs when concrete fails due to moisture causing rusting of the steel bars within. The bars are present for reinforcement. Moisture and air exposure result in cracking of the concrete and rusting of the steel. Once this begins it is a vicious cycle.

It can also be referred to as Mundic Block Construction. Mundic construction is again referencing property built using unstable concrete. Mundic is a Cornish mining word for pyrite (fool's gold). South West England, Cornwall and Devon are common areas to be at risk and buildings tend to have been erected between 1900 and 1965.

Is there a solution?

Yes, but it’s not quick or easy! You need an expert. Only use someone familiar with PRC. A general builder will not be sufficient.