Lender has requested Damp and Timber Survey

kar123

I’m a first time buyer and I am currently in the process of buying a house. A valuation was performed by the lender and the report has come back with Damp being an issue in the property. I have been instructed to find a company to perform a Damp and Timber survey. If issues have been identified, would the lender allow me to resolve the issues quickly after the Mortgage has gone through or does it have to be completed before the sale? Could the seller even drop out of selling the house if I put in funds to repair the property? I will be funding the D&T survey so I was wondering if it’s even worth the risk? 

FreeBear

kar123 said: I will be funding the D&T survey so I was wondering if it’s even worth the risk? 

Find yourself a D&T surveyor who is independent and experienced with older properties. You don't want anyone with connections to a D&T treatment company, and try to avoid anyone with links to the Property Care Association.

The lender may well hold back on part of the mortgage until any remedial work has been undertaken. You don't want to be putting up funds for any repairs until after completion - Until completion, there is a risk the seller would pull out, so don't put any money in until you have the keys in your hands.

What exactly does the survey say about damp ?

youth_leader

My buyer's lender valued my house at £0K as they wanted a damp and timber report done on my 1847 house.  I paid for it as a gesture of good will and forwarded it to the buyer - his mortgage lender threw it out as completely unsuitable.  Waste of my £300, do go to someone who knows heritage properties.

kar123

FreeBear said:

kar123 said: I will be funding the D&T survey so I was wondering if it’s even worth the risk? 

Find yourself a D&T surveyor who is independent and experienced with older properties. You don't want anyone with connections to a D&T treatment company, and try to avoid anyone with links to the Property Care Association.

The lender may well hold back on part of the mortgage until any remedial work has been undertaken. You don't want to be putting up funds for any repairs until after completion - Until completion, there is a risk the seller would pull out, so don't put any money in until you have the keys in your hands.

What exactly does the survey say about damp ?

Unfortunate the reports stated that I need to find a surveyor with links to Property Care Association. It states: 


High damp meter readings were taken on internal wall surfaces throughout the ground floor of the property. This may also be affecting the ground floor suspended floor timbers. A timber and damp specialist should be instructed to carry out a survey and confirm the nature and extent of the issue. The report should include costs for any remedial work required. The specialist should be a member of the Property Care Association. '

I was considering to go with Timberwise, are they any good? 

FreeBear

kar123 said: was considering to go with Timberwise, are they any good? 

Um. Looking at their web site, they peddle damp proofing treatments. Wouldn't touch them with a barge pole.

ChewyyBacca

FreeBear said:
Um. Looking at their web site, they peddle damp proofing treatments. Wouldn't touch them with a barge pole.

If a lender (bank) has asked for their (PCA) assessment, I would imagine they (PCA) would be impartial. Just a guess though, no experience with them or any affiliations.
OP: can you not ask lender if you could get an independent survey done by RICS member?

youth_leader

Any help on here?
https://www.heritage-house.org/building-surveys/timber-and-damp-surveys.html 
I went to the PCA company my EA recommended, completely unsuitable solutions presented, almost lost the sale over it

AlwaysWanderlusting

@kar123, what does your mortgage offer say? It should say whether they're planning to retain any funds until you do the work, and also whether or not the survey is a condition of them releasing the funds. 
 
After doing my own research and my experience of getting a damp survey done by a PCA company (against my better judgement and with limited other options in my area), if it isn't a condition of the mortgage I wouldn't recommend getting one - not worth the paper it was printed on. Helpfully, my survey was detailed enough to indicate the root issues that needed fixing and I've been able to use that to negotiate the price down to reflect this. 

When I was looking, I did come across Heritage Consulting, which was useful for my general knowledge but unfortunately they weren't working in my area at the time I contacted them: https://www.heritage-consulting.org/damp-surveys/

bbat

I can only echo earlier comments. Get a truly independent damp surveyor, and not one linked to damp proofing company. You may need to take through Google to find one local to you, as those linked to damp proofing companies come high up the chain on Google.

I made mistake of getting D&T report from damp proofing company. They do not search for the cause of any issues,they always recommended internal damp proofing solution which are very intrusive and were not suitable for the older place I was buying.

Tracet74

I have to give a different opinion, having worked in surveying for 16 years.  Most lenders would expect a D&T company to be a member of the Property Care Association and we always recommend you use a PCA approved contractor.  I'd not be surprised if a lender rejected a report if not by a PCA member.

Avoid using companies who carry out reports for free as they are typically pitching for business.  I've used Timberwise previously and have never seen a bad report from them.  Can also recommend Stonehouse Property Care - https://stonehousewaterproofing.co.uk/

Standard91

Hi there, 

I was wondering if anyone could share some wisdom. We are currently trying to buy a house - we offered the asking but had a down valuation of £13,000 in our RCIS Homebuyers report. We have now had a retainer put on our mortgage and requested to have an PCA evaluation of the Damp and Timber. 
As we're first time buyers we are struggling as to know how to proceed. We have sourced someone to do the survey for a reasonable price, but are waiting to hear back from the vendors. 
So, do we just wait until the survey is done? We have our solicitors appointed but not supplied documentation yet as we don't want to be liable for fees until we have a clear idea as to how much the vendors will go down on. We're willing to invest more of our money if the works are reasonable and affordable, or should this be a condition of the sale? 

As you can see, any advice would be really appreciated.