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Help! subsidence,insurance & conveyancing

cantworkitout · 2011-08-11 12:37:46

Hello, I would really appreciate some advice as very worried and do not know where to turn for fear of loosing it all! Back in October we brought our second property. (parents do not own property, so this is a real learning curve for us! ) I had the basic survey from my mortgage company as they assured me this would cover…

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kingstreet Posts: 39,254 Forumite

12 August 2011 at 12:42AM

It was then I began to notice cracks appearing in the celings upstairs. the bathroom door and window catching and the stairs with cracks along the bottom skirting area.

If these cracks only appeared in the months after you purchased the property, it's quite possible they weren't there when the surveyor inspected it. Whether you had a mortgage report and valuation or homebuyer's reports, a surveyor cannot see what isn't there.

Here's Halifax valuation/survey fee scale which applies today;-

PP/Value
£50,000 basic £240 homebuyer's £-

£100,000 basic £280 homebuyer's £465

£150,000 basic £315 homebuyer's £495

£200,000 basic £355 homebuyer's £545

£300,000 basic £430 homebuyer's £665

£400,000 basic £500 homebuyer's £795

I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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