Buildings insurance problem

linda.b_4

The valuation report abbey had done pointed out possible subsidence on the house we hope to buy but only knocked off a grand from the valuation. Now abbey insurance say they cant insure the property without a structural engineers report. How much do they cost? How long does the process take and cant we just go to another insurance co. to get insurance as this is abbey, the same as our mortgage. Thanks for any info.

silvercar

Do you really want to buy a house that might be subsiding?

If it needed underpinning at any time it would cause you immense hassle for a long time. You would also face the possibility of having to move out for a while.

As a house is probably the most expensive purchase you will make I would think you would want a survey for your own peace of mind.

BobProperty

linda.b wrote:

The valuation report abbey had done pointed out possible subsidence on the house we hope to buy but only knocked off a grand from the valuation. Now abbey insurance say they cant insure the property without a structural engineers report. How much do they cost? How long does the process take and cant we just go to another insurance co. to get insurance as this is abbey, the same as our mortgage. Thanks for any info.

You need an accurate idea of the cost of putting it right, then, if you still desperately want the house go from there. A structural engineer report is going to be hundreds. Repairing any significant amount of subsidence is going to be thousands. You can't "just go to another insurance co." unless you can find one who only employ very short-sighted very stupid surveyors. Realistically, anyone who knows what they are doing should spot it, and every insurer will say the same if not worse (i.e. we're not interested in insuring it.)