Buy mundic C house in Cornwall?

McWoodie

Hi, was wondering if you found your forever home in Cornwall and if you did buy a mundic c property. Looking for some feedback as we are also thinking along the same lines. Any info would be much appreciated.

marky_cares

HHello Could anyone help me out before i dive in ! t me in some direction or advice please is it possible to get any kind of equity release on a mundic block house (its classed .surely there is money locked into the plot ,i think the plot is valued at £300000 , please point me in the correct direction / or what is the best way to get around it ,or can i fix my house to make it mortgageable ?
thank you in advance for any kind advice

marky_cares

Hello everyone ,could i throw in a mundic question .: Does anyone know if it is possible to get equity release on a mundic (grade property . I know the plot is probably worth about £300000,can that be equity released ? . Or i guess the only other way is to get the classification changed,any ideas on how to do that
thank you in advance (and sorry if i jumped onto this thread,it seemed the most appropriate place to be

ftimes

Mundic panic is a generally a scam.
If you're not interested in resell grab yourself a bargain but don't fall down overnight they mostly don't fall down you can make it mortgageable by building an inner skin rebuilding it having a timber frame in a skin having four corners rebuilt inside etc.

ftimes

A survey that finds mundic is worthless; they test a small area and extrapolate their findings of which they have little real life field data. Mundic houses don't fall down. In any case a simple re-build with modern block (to yet be classified as mundic for another 50 years?) is not a big deal when you consider that a mundic house might cost 50% or less of a modern pre-fab block or traditional brick house.
There are several options including building inner & outer traditional walls so as to adequately fool future surveyors/financiers.
Mundic buy-to-let yield over 10% (2019). After a couple of years, a landlord may have accumulated revenue with which to pay for a rebuild and then release a massive capital growth.
Mundic houses don't fall down: read the small print. There have been a couple of collapsed houses over mine shafts (which only opened up as a direct result of [stupid &] intrusive drilling mining surveys). Not a single mundic house fell down on its own. In practice any issue starts small and is repaired.

VaporTrail57

diamond_dave said:

Hi -living here in Cornwall there are dozens of Mundic houses AND bungalows. The blocks used in their construction were made from mine waste and when exposed to the damp and rain(it does get wet here!) the blocks start to crumble and go soft. Although I understand that it is classed from A-D -A being the most severe - I would be VERY wary about going ahead with this purchase without some serious structural surveys. Being classed as C may mean that say an extension has mundic but not the main house. Many of the houses close to here have been knocked down and rebuilt. Don't forget you'll have difficulty getting a mortgage and getting house insurance may be compromised. Proceed with caution. They do fall down -please look at properties on rightmove in Camborne and you will see some shockers!

The only mundic houses that have 'fallen down' have been caused by mundic surveys which are quite intrusive boring 1" or wider verp deep holes. Perhaps an avid DIYer can cause a 911 collapse too but like any bricks & mortar, everything can be repaired. Mundic houses are great value and furthermore for a self-builder a sound investment, because they can be rebuilt cheaply.