Buying a house with previous subsidence claim

TheLuckiest

Hi all

I'm just hoping for some thoughts/advice from anyone more knowledge/experience than myself..

We're looking to buy a bungalow which was built in the 1980's.

After some discussions with the vendor it emerged that they made an insurance claim for subsidence about 7-8 years ago. The reason for the subsidence was faulty soakaway drains.

The result of the claim was that the soakaway drains were disconnected and mains drainage connected instead. The building was then monitored for a year and a certificate of structural adequacy issued. The repairs to the property then took place: metal braces inserted into cracks, roof re-alligned, and a door replaced due to warping of the frame.

Obviously this isn't ideal, and the insurance cost is higher (they pay around £450 a year, with increased subsidence excess) but we feel we are getting the property at a good price and we love it.

Assuming the survey doesn't throw up any ongoing issues, would you be put off by past problems?

alchemist.1

I wouldnt be. As long as you can get insurance to cover it.

mel48rose

alchemist.1 wrote: »

I wouldnt be. As long as you can get insurance to cover it.

Same here. My house had subsidence movement in the early 80s apparently and I still bought it 5 yrs ago.

TheLuckiest

mel48rose wrote: »

Same here. My house had subsidence movement in the early 80s apparently and I still bought it 5 yrs ago.

Thanks for the reply. Was there an insurance claim in your case? This is one of the worrying things - the lack of insurers available, but I guess as long as insurance is available, it needn't be an issue.

ManuelG

TheLuckiest wrote: »

Thanks for the reply. Was there an insurance claim in your case? This is one of the worrying things - the lack of insurers available, but I guess as long as insurance is available, it needn't be an issue.

Once it gets past a decade, AXA will offer insurance on houses with prior subsidence, and once past 15 years Legal and General will. Your house isn't far from moving into the 'mainstream' (although who knows if insurance companies will all change policies, going into the future!)

FWIW, a previous subsidence claim didn't put me off (I did make sure I got a surveyor to check rather carefully as a result, and the surveyor said the fix had made it more secure than the houses down the street that *hadn't* ever had any fix) although it did make the house cheaper (I could afford it) and clearly put *some* off.

I bought it as I intend to stay here a fair while. There's no doubt previous subsidence would have some running for the hills, however, so it's worth bearing in mind if you're intending to re-sell, it could well be considerably harder to do so (and also a cheaper price!).

TheLuckiest

ManuelG wrote: »

Once it gets past a decade, AXA will offer insurance on houses with prior subsidence, and once past 15 years Legal and General will. Your house isn't far from moving into the 'mainstream' (although who knows if insurance companies will all change policies, going into the future!)

FWIW, a previous subsidence claim didn't put me off (I did make sure I got a surveyor to check rather carefully as a result, and the surveyor said the fix had made it more secure than the houses down the street that *hadn't* ever had any fix) although it did make the house cheaper (I could afford it) and clearly put *some* off.

I bought it as I intend to stay here a fair while. There's no doubt previous subsidence would have some running for the hills, however, so it's worth bearing in mind if you're intending to re-sell, it could well be considerably harder to do so (and also a cheaper price!).

Thanks Manuel. It's re-assuring to hear that. I guess we should be grateful that we're able to go into this with our eyes open, and I'll certainly make sure our surveyor is aware of the previous repairs.

We are first time buyers, and are buying as a family home so there is no intention to sell it on in the near future.

TrickyDicky101

Do you know you will be able to insure the property? The current owner's insurer may well refuse to quote if you try to take a policy with them.

TheLuckiest

TrickyDicky101 wrote: »

Do you know you will be able to insure the property? The current owner's insurer may well refuse to quote if you try to take a policy with them.

I spoke to a specialist broke who said insurance shouldn't be an issue as long as a certificate of structural adequacy in place (which the vendor says he has, though we haven't seen it yet). Some insurers would also need a homebuyers report as minimum.