Retention On Mortgage Until Lead Water Pipe Replaced

Knebby

Hi Everyone

As subject line really. Received the mortgage offer from the lender, and they are intending withholding a retention of £1.5k until the lead water supply pipe is replaced (From stop !!!! to tap, so our responsibility). This is based on the surveyors report which just says, "lead water pipe needs replacing" and no other information.

I realise that it is the lenders money at the end of the day and they can stipulate what ever conditions they like, but my understanding is that whilst "The Water Supply (Water Fittings) Regulations" no longer allow lead piping to be installed, there is no legal requirement to remove and replace lead pipes in existing installations.

I also understand the potential health implications of having lead water pipes and would eventually have the pipe changed anyway, but this would be no small job with a lot of upheaval and cost.

Has anyone else had this before with any lender (This is Virgin) ? Is it worth challenging?

Thanks in advance.

Browntoa

My solicitor has successfully challenged a retention of £15,000 in the past

PField

Was this the basic valuation that brought up a lead pipe or did you pay extra for a survey?

Knebby

It was just the valuation survey that flagged this up.

bouicca21

Does it need replacing because it is lead or because it's broken/faulty?

Btw In hard water areas the pipes are so full of lime scale that the lead pipes are no danger.

Knebby

I doubt for the valuation survey that the surveyor did anything other than check what material the incoming water pipe was made of. There is nothing to suggest it is broken or faulty.

What I am questioning is just how urgent is replacing the lead pipe, Virgin obviously believe urgent enough to keep retention monies. Surely there are still thousands of older properties still on lead supply pipes, do mortgage companies always insist these are replaced immediately?

keith969

They presumably believe that it might affect the selling price - I'm guessing you have a highish LTV? It's worth challenging it, I had a lead pipe cold feed in an 1860's house, it was never queried, and there were far more urgent things to attend to anyhow.

Davesnave

Knebby wrote: »

What I am questioning is just how urgent is replacing the lead pipe?

Nobody knows. A pipe in an older property may be buried in walls and spring a leak due to chemical reactions over time, eroding it. The results can be spectacularly expensive, or just a steady drip.

It's a known unknown.