We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Subsidence- should we risk it?
Comments
-
zzzLazyDaisy wrote: »I have a friend who this happened to. She contacted the house owners insurers who agreed to continue insuring the house. She bought the house - so far so good.
15 years on - she has never been able to get another insurer to insure the house because of the earlier subsidence (even though the house has been stable all that time) so she is locked into the current insurer with spiralling premiums and no way out. And no doubt when she sells she will have difficulty finding a buyer, and even then they will knock her down (if they have sense) because of the insurance issue.
Personally, having seen her situation, I would walk away. Just my opinion.
Dx
We had a subsidence issue caused by cracked drains. It was covered by insurance. This happened about 6 years ago and in our case the insurance premiums have decreased over the years. We pay £240 a year building insurance so does not necessarily mean the premiums will continue to rocket.
I further add that no underpinning was required and only affected the tenament.0 -
.... any purchase is likely to fail during the mortgage process anyway, but probably once you have already spent money on application/valuation.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards