Buying house with underpinning

stoo_2

I'm looking at buying a house that has had partial underpinning done 7 years ago, it has a 20 year guarentee and an engineers report. They also have transferable insurance costing £1500 per year on a £430,000 property.

2 questions -
1: is it a dodgy investment buying a house with underpinning?

2: Will the insurance premium ever decrease after any amount of years if there is no more movement? Or will it be always expensive?

Ps. the movement was caused by a tree.

Thanks for any help

clutton_2

i would talk to your solicitor as to how prospective purchasers might view this house in 13 years time when the guarantee is up.

f the work has been done well, then there is no reason to think that it will be a problem. If it has not been done well, then i would have thought the current owners might have called them back to repair it by now.

Shop around for insurance quotes, they can vary a lot.

fatnan

Moved 3 years ago from a house we lived in for nearly 30 years and which had been underpinned. The foundations were about as secure as a Bank of England vault (watched them being done!), but on the downside always had hassle trying to insure. Trapped in with the same insurer and paid through the nose.

ddaimlerdan

Guarantees are worthless! Every guarantee I have ever investigated well the firm has gone bust (conveniently) the guarantee exists to help sell a service. Damp proof course, dry rot treatment etc. I wouldnt touch the property, plenty more fish in the sea. Why take the risk??

stoo_2

Fatnan - did your insurance premiums ever reduce?

Just trying to work out if the underpinning is ever classed as successful and therefore the insurance drops to the normal level?

The only reason I'm trying to find out more is because the wife loves this property...

Thanks for the advice. S.

payless

Personally the property would have to be something special for me to take on the risks