Survey missed "movement"

TightGit

After jumping through all the hoops possible for our lender to give us this money ( including paying 13k off our current mortgage to being the LTV down to 65% based on their innacurate desktop valuation ) they finally agreed and got their survey done.

It came back with this :-

"The important parts of our valuer's report is that the property has evidence of movement that appears to be significant & likely to be progressive."

However, we already had a homebuyers report done with Allied Surveyors. http://www.alliedsurveyors.com/surveys.asp

No mention of movement or subsidence, or no recomendations to get a structural engineer to look at it etc..

Did allied balls up .. or are the lenders just trying not to lend us this cash ?

Really2

TightGit wrote: »

After jumping through all the hoops possible for our lender to give us this money ( including paying 13k off our current mortgage to being the LTV down to 65% based on their innacurate desktop valuation ) they finally agreed and got their survey done.

It came back with this :-

"The important parts of our valuer's report is that the property has evidence of movement that appears to be significant & likely to be progressive."

However, we already had a homebuyers report done with Allied Surveyors. http://www.alliedsurveyors.com/surveys.asp

No mention of movement or subsidence, or no recomendations to get a structural engineer to look at it etc..

Did allied balls up .. or are the lenders just trying not to lend us this cash ?

Did you get a full structural survey done by your surveyors.
I would say believe the lender, they would want your business but not if the property is not worth the sales it because of the problems.

TightGit

I got a homebuyers report, as above. I was under the impression a homebuyers report would point out anything they werent happy with and recomend a strucutral survey if they felt it needed one ?

Really2

TightGit wrote: »

I got a homebuyers report, as above. I was under the impression a homebuyers report would point out anything they werent happy with and recomend a strucutral survey if they felt it needed one ?

You needed a building survey (at the top of your link).

All you had was basically a valuation. It unfortunatly up to you if you want a structural survey or not.

I take it there were no obvious signs of recent movement?

TightGit

Surely i only needed a building survey if there was signs of movement bought up in the homebuyers report ? ( the homebuyers report does look at subsidence and movement but wont investigate it , and should tel you if you need a more in depth report ) ?

And no , we didnt just have a valuation, we had a 24 page report done that covers most things you would come across and should highlight any potential problems that would need further investigation.

Really2

TightGit wrote: »

Surely i only needed a building survey if there was signs of movement bought up in the homebuyers report ? ( the homebuyers report does look at subsidence and movement but wont investigate it , and should tel you if you need a more in depth report ) ?

And no , we didnt just have a valuation, we had a 24 page report done that covers most things you would come across and should highlight any potential problems that would need further investigation.

I take it any movement was not obvious or you would have gone for a structural report anyway.

if there was not obvious signs there is no way of knowing without a building survey, that is why it always better to have a building survey for older houses.
They will also pick up missing walls etc.

TightGit

I dont get it... it must be relatively obvious if the not so in depth valuation from the lenders has picked up on it ??

Really2

How old is the building? as far as I know you would only use home buyers report on a relatively new building (less than 50 years).

It is generally state of repair not structural.

Why don't you get a structural survey done, would that set your mind at rest?

TightGit

Its not my mind thats not at rest, the lenders wont give us the money unless we can prove the house isnt moving.

I am not willing to spend more money on more reports only for the mortgage to still get declined to be honest.

Its around 50 years old.

The point i am making is a homebuyers report should have still picked up on this fault and recomended a strucutral survey, they didnt.

Really2

TightGit wrote: »

The point i am making is a homebuyers report should have still picked up on this fault and recomended a strucutral survey, they didnt.

No it should not if it was not obvious, the only way of you having come back on movement is building survey not a home buyers report.
I can't find anywhere which says a home buyers report should be certain of movement.
http://www.home.co.uk/guides/buying/homebuyer_report.htm

You chose which report to have, and if it had come up on the home buyers report would you have paid for the building survey?

You chose the cheaper report, unfortunatly this time it was not suitable.

But it is better it comes up now and you move in then find it is moving.

If you don't want to pay, walk away. But you can't blame others for not flashing it up as you never had a building survey.

TightGit

You either arent following or are being deliberately argumentative. I havent asked them to be certain... they TOTALLY MISSED it.

First result i could be bothered to find on google for you - http://www.sheffieldforum.co.uk/archive/index.php/t-156798.html

Note how the homebuyers report recomended a survey as they found signs of subsidence.

I didnt choose the cheaper report as a gamble, i chose the cheaper one as i thought they would tell me if i needed a strucutral survey ( Like the one from the lenders has that is more simple than a homebuyers report ) then yes i would have had the strucutral survey.

I am still going to get the strucutral survey done as we have come too far , and it may actually be sound but the whole point of this thread is that the original report missed it ( and should have picked it up or questioned it ) but this seems to be where we are crossing wires !