Conflicting Survey and Valuation

Chapuys

I need a little advice.

I'm currently buying my first property and it looks solid and fine. No history of subsistence, settlement, landslip or heave by the venders.

However my mortgage company did a valuation on my behalf and wrote that there is evidence, but the risk is long standing and acceptable and there are no risks of future movement. They didn't detail any additional details about it in additional comments and have proceeded with the mortgage offer.

Without seeing the valuation at the time I had a full building survey conducted. My full building surveyor stated, let me quote, "I didn’t pick up any evidence of any structural movement caused by subsidence, settlement, landslip or heave."

However, because I have a valuation document stating I have evidence of it I have to declare it to my insurers (they specifically ask about valuations) and I'm getting refused or asked to jump through hoops because of the discrepancy of the two reports and the fact they want a date the possible movement occurred. I tried to contact the valuers but I was not their client so have not replied to me. I need insurance in place on day of contracts exchanging or it will fall through.

Therefore my question; what do I do from here because of the conflicting information? Do I now need a full structural survey or a certificate of structural adequacy to decide who is right?

davidmcn

If it's longstanding and historic (which is almost a standard comment on any older properties) then I don't see a need to highlight it to insurers, or for you to investigate it further - what exactly is the question the insurers have asked?

Surrey_EA

As the previous poster says, the comment in the valuation would not cause me to declare anything to my insurance company. It is a pretty standard sentence.

Chapuys wrote: »

However my mortgage company did a valuation on my behalf

It was on the mortgage lender's behalf, not yours!

Chapuys

Thank you for the replies, the property is a 1850's stone mid terrace and the valuation does state it is long standing. The two questions on many of the quotation websites are roughly:

• Has the property, or any neighbouring properties, ever shown signs of or been monitored for subsidence, landslip or heave, or needed any structural support?
• Has the building been the subject of a survey or valuation which mentions any settlement, movement or structural defect?

Because of the declaration, I am generally forwarded to customer services who want a date when it occurred - 10, 20, 50 years ago etc - which I cannot provide.

Have I just been over zealous because the Valuation stated yes to 'Is there evidence of the property being affected'? Equally, you are right I never asked for the valuation and many mortgage companies no longer release them to customers - mine just made it available to me.

davidmcn

Chapuys wrote: »

Has the property, or any neighbouring properties, ever shown signs of or been monitored for subsidence, landslip or heave, or needed any structural support?

The answer to this is no, from what you've told us.

Has the building been the subject of a survey or valuation which mentions any settlement, movement or structural defect?

Ok, that probably does require a "yes" answer but I can't recall such a wide-ranging question when I've bought insurance. Just had a look at one of the big comparison sites and it only asks the previous question, nothing about settlement.

Surely the insurers will understand that the surveyors probably can't identify when something in the past happened?

Finchy2018

The mortgage val is literally a tick box exercise - have you checked it's not an error on the valuer's part?

G_M

What Valuation? It was instructed by, and given to, your mortgage lender. You've never seen it......


On the other hand you have seen the detailed report fromyour own survey, so that's what you rely on.