Underpinned house

maybe_tomorrow_2

Good morning, a buildings survey has conculded that a house i wish to purchase was underpinned in 1991 and that building regulation consents were obtained and these should be requested by my solicitor. Its a 2 storey end terrace house.

I am a little worried now as I thought it was not a very good idea to buy a house which has previously been underpinned and subject to settlement.

Could someone tell me otherwise, is this nothing to worry about or should I walk away....What else should I be asking the vendor for?

Thanks

macman

Do what has been requested-asked for the paperwork to be provided by the vendor. Without that, or an indemnity policy in it's absence, you won't get a mortgage anyway-no building society will accept the risk.

jhe

my house suffered very light subsidence in the 90's, our house insurance is higher than it would be if it hadn't suffered subsidence plus lots of insurers dont want to know if a house has had subsidence, i cannot use the insurance compare sites
i have been told that cis will insure a house 15 years after underpinned but i havn't checked this out yet.
you might find you have to stay with the present insurers.
hopefully someone on here can advise you better than me though.

SleeplessinScandinavia

Hi

If the property has been underpinned, as you say, then its quite likely to have suffered subsidence at some stage in the past.

In that case, the cost of insurance may be expensive, and when you come to resell, it could put off a potential buyer.

I would talk to the person who did the survey, and 'grill' them, as they may be able to offer some kind of verbal reassurance.

Best of luck!:o

rxbren

stay clear can be more hassle than its worth
buildings insurance is more and mortgages will be hard to come by

themull1

I would walk away, plenty more properties out there.

ANGLICANPAT

If the property is in an area where subsidence is rife but you need to live there - like parts of London, then just proceed with caution. If you live outside such an area, I second everyone elses view to walk away. Endless problems and headaches in owning such a property .

LadyDee

I lived in a house which I had to have underpinned - a massive job. However, the insurance company undertook to continue to insure the property and keep it insured - a benefit which passed to the purchasers of the property when I sold it. I don't remember that the subsequent premiums were loaded.

The underpinning work made the property even more stable and sound than its neighbours, so don't be too quick to condemn an underpinned property. If you do your homework, i.e. get a thorough structural survey and get sight of the insurance documents and surveyor's report from the surveyor who signed off on the work you could get a bargain!