PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Down valued due to powerlines!

Options
amylou1107
amylou1107 Posts: 60 Forumite
First Anniversary Name Dropper First Post Combo Breaker
in House buying, renting & selling
Hi all,
We've had an offer accepted on a house and the valuation has come back £20k less than our asking price offer of £320k.
The reasoning the lender has given us is because the house is in close proximity to 'high voltage apparatus'. We were really surprised by this as the pilon is in a field over 750 feet away. There are no power lines anywhere near the house.

Has anyone else had experience of this? What did you do?
Personally the pilon doesn't bother us and we can't see if from the house or garden but equally I don't want to struggle to sell in future...
Thanks!!

Comments

  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
    First Post First Anniversary Combo Breaker
    Options
    Make an offer halfway, 10k less.
  • Chanes
    Chanes Posts: 882 Forumite
    First Anniversary First Post Combo Breaker
    Options
    When we were looking for a house we saw one on a busy main road, it was set back from it by about 15 metres and the traffic really didn't trouble me. We had sold our house and I was really interested in it because it was really well presented.

    My estate agent explained that it would not appeal to many people because of that road and even though I didn't mind if I was to sell in the future I would have to find someone like me who would buy it. In other words, she told me the market I could sell to was reduced.

    And that's exactly the situation you have; I wouldn't buy that close to a Pylon but you would. And as such the price has to appeal as a temptation to the undecided I guess.
  • Bonfire_Bride
    Bonfire_Bride Posts: 710 Forumite
    First Anniversary First Post Combo Breaker Stoptober Survivor
    Options
    We bought a house next to a quiet pub...have had only 1 issue in the 9 years we have been living here in that time which was resolved quickly. It took us 19 months to sell our house.

    When we were viewing, we saw a house that was facing a beautiful field of common land. However, approx. 800 feet away was a pylon...it was a 4 bed house, huge garden and the price was ridiculously low. It took them longer to sell their house than it did ours.

    I researched into it as the house was perfect and the cancer research website states that no significant correlation has been found between cancer and pylons BUT there are some research papers that suggest a higher rate of childhood cancers amongst those living near Pylons. My husband thinks it is rubbish but if any of my children were to become poorly, I would always wonder whether it was linked to a property that we bought...not a nice thought.

    It definitely will affect the ease of resale.

    We thought we would never sell ours, but we have a FTB who has fallen in love with it.
  • Chanes
    Chanes Posts: 882 Forumite
    First Anniversary First Post Combo Breaker
    Options
    Bonfire_Bride wrote: »
    We bought a house next to a quiet pub...have had only 1 issue in the 9 years we have been living here in that time which was resolved quickly. It took us 19 months to sell our house.

    When we were viewing, we saw a house that was facing a beautiful field of common land. However, approx. 800 feet away was a pylon...it was a 4 bed house, huge garden and the price was ridiculously low. It took them longer to sell their house than it did ours.

    I researched into it as the house was perfect and the cancer research website states that no significant correlation has been found between cancer and pylons BUT there are some research papers that suggest a higher rate of childhood cancers amongst those living near Pylons. My husband thinks it is rubbish but if any of my children were to become poorly, I would always wonder whether it was linked to a property that we bought...not a nice thought.

    It definitely will affect the ease of resale.

    We thought we would never sell ours, but we have a FTB who has fallen in love with it.

    It's the chance you take by hoping someone like you will come along and buy it. We didn't buy the one one the main road after considering it had been on the market for over a year. We bought one on a quiet estate that sell quickly, so much so we offered asking price on first viewing!
    :)
  • Davesnave
    Davesnave Posts: 34,741 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    I'll admit that I've rejected property viewed on Rightmove because of 144kv pylons at that sort of distance, mainly on the basis of their ugliness rather than any health concerns. Some people look out for them by default.

    It's just one of many factors that may affect a property's conversion ratio of internet hits to viewings. The fact that the pylon can't be seen from this property is only partially relevant, since a potential viewer will not discover that if they've already rejected it.

    I agree with glasgowdan that one way forward would be to ask the vendor to share the down vauation 50:50 with you. This is what often happens in these circumstances, regardless of the reason for the shortfall.
  • stator
    stator Posts: 7,441 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Options
    I'm more concerned about the radiowaves Sky TV are beaming into all our heads through their high power directive satellites. Will pay extra for a house hidden behind a hill and no view of 13° East
    Changing the world, one sarcastic comment at a time.
  • deFoix
    deFoix Posts: 213 Forumite
    First Anniversary Combo Breaker First Post
    Options
    Bonfire_Bride wrote: »
    the cancer research website states that no significant correlation has been found between cancer and pylons BUT there are some research papers that suggest a higher rate of childhood cancers amongst those living near Pylons.

    Really? Can you give us references?

    As a chartered electrical engineer I would seriously dispute that there was ANY material correlation between cancer and pylons.

    High-voltage electrical systems are over a century old. If there were any 'significant' health risks we would know them by now.

    This is more to do with aesthetic issues.
  • Davesnave
    Davesnave Posts: 34,741 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    Boler1985 wrote: »
    As a chartered electrical engineer I would seriously dispute that there was ANY material correlation between cancer and pylons.

    High-voltage electrical systems are over a century old. If there were any 'significant' health risks we would know them by now.

    You can dispute it all you like, but you'll not convince everyone.

    The doubters buy houses.

    In a limited sense, they're right, having picked-up on the way scientific thought has changed radically over the centuries.

    You are working from what you know, but a true scientist always leaves a door open somewhere for that which is not yet known.

    So, "We would know it by now," just doesn't cut it with a doubter.

    ( I'm playing devil's advocate here. I have no concerns myself. :))
  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
    First Post First Anniversary Combo Breaker
    Options
    Agree, there's lots we don't know about yet that people 50years from now will find appalling!
  • amylou1107
    amylou1107 Posts: 60 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    Options
    Just an update.
    We got a second valuation done on the property and the lender came back saying it was worth what we offered (£322k) and they have approved our mortgage.
    No mention of powerlines at all!!
    Surprising how two lenders can vary so much!

    Thanks all for your advice on this.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards