FTB, valuation and structural report

lucy14z

Hiya. Looking for some guidance. We are FTB with a mortgage approved subject to valuation on a 359k house which is a end of terrace. We paid for homebuyers survey as part of valuation for HSBC which pulled up a crack in the rear wall above a window and that the drains were blocked. They requested structural report before could give valuation.

We have had this done that could not rule out movement was progressive. Recommended drain survey. Report was issued prior to drain survey being completed and states it’s a isolated issue but can’t rule out subsidence in that area and trial pits should be used.

Since then we had the drains surveyed which showed some minor cracks which the structural engineer says “is probably the cause”. His advice now therefore is to repair the drains, monitor the crack for a year and then repair crack with Helifix.

Surveyor still not giving valuation though despite the new advice. We have quotes for drains to be fixed and the Helifix crack stitching totalling less than 2k.

Helifix approved installers state that the system means no underpinning would be needed etc but there is some obvious hesitance from us and the structural engineer around this.

Will HSBC now run a mile or what can we do to get mortgage approved?

We are happy to take the work needed on the house and the price is reflective of this but seems we stuck between one crack and a £0 valuation figure!

Any advice would be appreciated.

G_M

There's really little you can do about the Halifax - they'll either

* approve the mortgage
* reject it or
* approve it subject to a retainer (probably £2k till the work is done)

If they reject, you could speak to an independant mortgage broker to find the most likely alternative lender.

If the cracks ARE the result of excess water in the ground due to the drainage leaks, then it's not a maor issue. Fix one and you fix the other!

Plus

Helifix is a type of glue, not a swear word for the lender!

It sounds like you need to push the surveyor to actually make a decision - even if they say it's worth 50p you can at least move on to a different lender, if they want more information you can provide it etc. Have they submitted their report to HSBC?

lucy14z

No I don’t think so. The surveyor is hesitatent that work has to be completed prior to purchase but that’s only possible for the drains as now as the surveyor recommends a year plus observation on the crack to be certain that’s the cause. I am awaiting some further clarification statements from the structural engineer but he seems to be very vague and inconclusive which I understand but still makes it frustrating.

Cakeguts

When was the house built?

lucy14z

1900 approx.

FreeBear

Cracks appearing above a window are more often associated with a lintel failing rather than subsidence. The size of the crack and its extent would provide further evidence as to the cause.

Do you know if this window opens, and if so, does it stick ?

lucy14z

I agree about the lintel failing and have put this forward towards the structural engineer. He is revising all new reports (drains) etc and rewriting the report tommorow so let’s see what he says. Having to pay for this though!!!

Yes the window opens with no problem.

Thrugelmir

lucy14z wrote: »

The surveyor is hesitatent that work has to be completed prior to purchase

On their report the lender is going to advance thousands of pounds. Surveyor is accountable to them as much as you.

lucy14z

Nothing like a forum to get completely different opinions I guess! Will be interesting to see who gets this right above!

lucy14z

So just to update - mortgage was approved today. Surveyor Recommended a 3k retention but no sign of the retention in the offer.