subsidence - mortgage co vs. surveyor

kcseb

Hi all

I've recently had a mortgage offer on an Edwardian garden flat...part of a row of Edwarian terraces on the street, with one other flat above.

The mortgage valuer noted cracking and past movement but said risk of further movement was 'acceptable'. Other flats are in similar condition along the road, from my layman eyes our is not the only one with tell-tale cracking...but it is one of the more extreme.

My surveyor (who I trust and have used before) says that the movement is probably caused by neighbouring trees, can't be sure it's not on-going, and that I should not proceed the sale without confirmation that the freeholder's building insurance will cover movement, plus details of any excess to pay.

The estate agent is saying if the bank will lend there's nothing to worry about, and that the surveyor's report is misleading. But I don't want to be saddled with a property that down the line I struggle to re-mortgage or sell. Subsidence scares me!

Any advice how to proceed and who should I believe?

Best

K
　
　
　

Hoof_Hearted

Obviously you don't believe the estate agent. He/she has a vested interest in selling the property and really has no interest in what happens after the sale has gone through. I guess it's either a structural engineer's report or walk.

kcseb

Thanks! I should mention my solicitor also seems keen to proceed since the mortgage co is willing to lend...which puts me in a pickle as I don't want to just ignore my surveyor's advice!

Any advice welcomed guys...

Best

princeofpounds

Yes, ignore the EA.

Your surveyor will always be the conservative path (if they are sensible). They hold a liability towards you for their advice so they cover their backs as much as possible. That does mean they can be overly-cautious.

The mortgage valuer has probably only done the most cursory inspection.

I think this property does fall into a genuine grey area where it comes down to professionals opinions (and they are opinions).

bryanb

You employed the surveyor to warn you of exactly this kind of thing, don't ignore him.
There are plenty more properties.

Tancred

Subsidence is more than just a few cracks in bricks. You would need to see diagonal cracks with the width of a 10p coin or more, and also internal cracks. Many old houses have had some 'settlement' as a result of historic movement - this does not make them structurally unsound.

zenmaster

Tancred wrote: »

Subsidence is more than just a few cracks in bricks. You would need to see diagonal cracks with the width of a 10p coin or more, and also internal cracks. Many old houses have had some 'settlement' as a result of historic movement - this does not make them structurally unsound.

This ^^^^.

We have internal and external cracks and sticking doors.

We contacted our insurers who sent a surveyor. He told us that it was "settlement".

It's not that I don't trust them, but the house is over 80 years old and I would have thought it would be well and truly settled by now so we got our own independent survey done and they told us the same thing.

I'm still not convinced but at least I have 2 letters stating this if there is any problem in the future.

PS: My Mum did have a subsidence problem and, as I recall, it took a year to confirm it. They hammered pegs into a wall and came back every couple of months to measure the change in height.

propertyman

Settlement and subsidence, as well as heave, can exist at anytime in a properties life, whether after 6 months or 100 years.

It starts with little distortions, and because of the soil the construction and the local trees, most esp older buildings, do flex a little.

Those little cracks and kinks expand into those large cracks and uneven walls and floors if the above are progressive and ongoing.

it's not an opinion, nor covering their back, its professional advice based on training and experience, but with limited scope of inspection, and we can judge by a number of factors whether the problems are ongoing and progressive, are not, or what the likely risk factors are.


:money:The average EA hasn't a ******* clue- trust your surveyor and my instinct would be to look at this closer

-The concern is local trees which unless they and their roots are managed will cause soil changes which affect the houses' foundations and can lead to the matter being progressive. Are they in your garden or next doors?

-Have the drains checked as they are the first thing affected by, blocked or damaged, by tree roots.

Lord_Baltimore

Ignore EA
Ignore Solicitor
Remember whose money might be at risk (yours).
Why take such a risk? Buy a different house.

desthemoaner

Likewise. My 113-year-old house has some settlement, but no ongoing movement was noted when a full structural survey was done fifteen years ago. I'm just about to put it on the market and I'm confident that it won't be an issue because I've lived here for seventeen years, and during that time have noted no significant movement. You, however, are new to that property and have only the opinions of others to go on, which in the case of the EA and solicitor represent vested interests. You wouldn't be asking the question unless you were confident that the purchase was a good one.
Find something else.

Tancred

Most countries don't even use surveys as part of the house buying process. Unfortunately Britain is a country where everyone likes to cover their rear ends and blame others for problems. If you look at Venice, for example, the whole bl**dy city is suffering from severe subsidence, yet houses there still sell for millions. Most of these slight subsidence reports are complete and utter BS, designed to line the pockets of surveyors.