Advice for a friend - subsidence from survey

goldbyron

My friend is buying a leasehold flat which has a history of subsidence (not severe) – with no current signs of movement. A few years ago a claim was made to rectify some movement and the vendors have provided a certificate of structural adequacy after works were undertaken. The buildings insurance is also the freeholders responsibility and the building continues to be covered for subsidence in the event of any future claims (there will be no issue finding insurance basically). With all of these provisions in place – should this be issue for my friends purchase?

Milliewilly

goldbyron wrote: »

My friend is buying a leasehold flat which has a history of subsidence (not severe) – with no current signs of movement. A few years ago a claim was made to rectify some movement and the vendors have provided a certificate of structural adequacy after works were undertaken. The buildings insurance is also the freeholders responsibility and the building continues to be covered for subsidence in the event of any future claims (there will be no issue finding insurance basically). With all of these provisions in place – should this be issue for my friends purchase?

The mortgage company might be twitchy about it. I personally would buy a flat without any problems. It could also put off future buyers when your friend wants to sell - unless its very cheap.

dacouch

I would suggest you try getting quotes for contents as this can often be much more expensive for properties that have suffered from subsidence