Mortgage or survey first?

popularfurball

We have put an offer on a house which has been accepted - but now unsure what to do!!!

The property value is the same as our current property, and we have a DIP for a mortgage for an extra 80k so getting the mortgage shouldn't be an issue in that sense.

However, the property is 1850's and very close to a brook which is quite big. Its not listed as a flood risk according to EA but it must have a fairly hefty risk as it basically adjoins the property.

I want to get everything checked before forking out the mortgage arrangement fees, so is it fine to have a structural engineer report before sorting the mortgage? I know we will also have to pay the lenders valuation fee.

so...

1) are there any problems with survey prior to mortgage?
2) can the lender demand a higher level report due to the flood risk so we may have to pay twice for a full survey?
3) it seems that a structural engineer will be our best bet - rather than a chartered surveyor from reading the forum? My main concerns are the rivers impact on the cellar and generally a check on structure due to the age. The current occupants seem pretty careful and have looked after the house - they have had damp course, reroofed, new windows etc etc over the course of the last 20 yrs.

Feel so out of depth... but hope we can get to grips with it all! :T

Thrugelmir

Have a search conducted and obtain the flood history.

G_M

popularfurball wrote: »

...

I want to get everything checked before forking out the mortgage arrangement fees, so is it fine to have a structural engineer report before sorting the mortgage?
Of course. You can anything you want, in any order you want, provided you are not in a hurry.

Out of interest, why a structural engineer?

so...

1) are there any problems with survey prior to mortgage? slows the process down
2) can the lender demand a higher level report due to the flood risk so we may have to pay twice for a full survey?If they choose. But if "Its not listed as a flood risk according to EA " why would they?
3) it seems that a structural engineer will be our best bet - rather than a chartered surveyor from reading the forum? My main concerns are the rivers impact on the cellar and generally a check on structure due to the age. The current occupants seem pretty careful and have looked after the house - they have had damp course, reroofed, new windows etc etc over the course of the last 20 yrs. If the river has caused structural damage, a SE should spot it. If it's damp you are concerned about, SE is inappropriate.

Seems to me your concern is that the brook may have flooded in the past. I would

* go to the local newspapapers offices and do a search for local flood stories
* knock on the neighbours' doors up/down the road
* talk to the postie
* talk to the local cornershop owner
* visit the local pub
* get an insurance quote (if there's a claims history the premiums will be higher) and/or ask to see current owner's policy
* visit the local council and ask about local flooding

etc etc

tigsly

if you know the propety postcode - you can search for 'flood risk' on teh environmental search for free.. it will tell you how high the risk is - if its 'high'.. personally I wouldnt waste my money,...


link here!

tigsly

oh and normally - mortgage underwriting then survey ..

popularfurball

G_M wrote: »

Seems to me your concern is that the brook may have flooded in the past. I would

* go to the local newspapapers offices and do a search for local flood stories
* knock on the neighbours' doors up/down the road
* talk to the postie
* talk to the local cornershop owner
* visit the local pub
* get an insurance quote (if there's a claims history the premiums will be higher) and/or ask to see current owner's policy
* visit the local council and ask about local flooding

etc etc

House has cellars, which the floor of the cellar is the same level as the river/brook currently following all the heavy rain last week - but the wall height is about 3ft higher than this. The floor did not appear wet in the cellar despite nearly a week of heavy rain and they keep all manner of things in there.

In summer kids paddle in it, the neighbour adjoining has his officer with computers in his cellar and the occupants state 3 times in 20 years they have had some puddles seep up through the floor - which drain again shortly after. The river wall has never been breached.

House insurance most won't quote on the postcode - there is "high risk" just down the road in the same postcode - this one is medium risk according to Env. Agency - I couldn't see the tiny smudge of blue on the map - better go to the opticians! :rotfl: :eek: However the quotes we have vary from 25 per month to 100 per month. Have spoken to the current provider, who would be happy to do a continuation of cover

Spoke to the local police man, who said the area does flood, but that it is down the road in the town where they have had issues.

...The biggest problem we have is that we have really specific criteria and this is the only one of two houses out of about 30-35 we have viewed which has met them - the other fell through for a multitude of reasons :eek::mad: Why is house buying so hard :mad::D

popularfurball

tigsly wrote: »

oh and normally - mortgage underwriting then survey ..

Because I was worried about the impact of the water on the house, and associated flooding I was worried we would lose the arrangement fee if the survey was horrendous?

tizerbelle

popularfurball wrote: »

:eek::mad: Why is house buying so hard :mad::D

Answer:

popularfurball wrote: »

...The biggest problem we have is that we have really specific criteria.

I'm not having a pop at you OP but I see/hear this a lot and basically its all the "specific must haves" that prospective buyers come up with that reduce the options available. If you will only consider a house with orangery, in a certain postocode, 4 bedrooms, 3 ensuites, games room, dressing room, brand new kitchen that meets your specific taste, granny annexe, show-home decorated and triple garage then yes, your range of possible houses are going to be reduced.

If as a buyer you are willing to compromise/reconsider some of your must haves, a lot more of the market becomes available. Are they really must haves or simply would likes?

popularfurball

There is only two "must haves" - 1.5 acres plus of land, and within half an hour of work.

To be fair we have compromised on area (it's just over half an hour and 23miles each way, it's got less bedrooms than ideal, needs work doing etc etc - but we love the property and the character etc . The reality is that it is difficult to get house with land in our budget - there will always be compromise to get that which we understand.

Ideally we would have a structurally sound four-five bedroom house with big open kitchen, separate dining room and large living room with some character that is detached with 5-6 acres of moorland type grazing in a rural location. What we have in reality is a three bed end terrace with 3acres lush pasture, some cosmetic work to be done, on a main road in a town which is quite a drive away - so no we aren't holding out for all singing or dancing but the land causes issues - I have horses dog and chickens and eventually kids so outdoor space is really important to us.

G_M

popularfurball wrote: »

...... The floor did not appear wet in the cellar despite nearly a week of heavy rain and they keep all manner of things in there.

In summer kids paddle in it, .....

:rotfl::rotfl::rotfl:




...The biggest problem we have is that we have really specific criteria and this is the only one of two houses out of about 30-35 we have viewed which has met them - the other fell through for a multitude of reasons :eek::mad: Why is house buying so hard :mad::D

I too have been house huting for a while. I also have " really specific criteria" - and 3 years on I'm still looking!

Th difference is probobly that a) I have no need to move, justa desire to meet my specific requirements if I can and b) I like where I am, so can afford to wait for as long as it takes.

popularfurball

G_M wrote: »

I too have been house huting for a while. I also have " really specific criteria" - and 3 years on I'm still looking!

Th difference is probobly that a) I have no need to move, justa desire to meet my specific requirements if I can and b) I like where I am, so can afford to wait for as long as it takes.

Hahaha sorry I meant that kids paddle in the brook not the cellar 😄😄😄😄😄 giant oops!!! We have sold our house and are renting it back so no massive rush but we are spending money on renting house and livery for horses when it could come off mortgage.