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Will my lender accept my vendors building insurance structural engineers letter!

qad007 · 2020-09-20 16:26:57

I am purchasing a property via auction. My lender valued the property at £0 due to potential structural movement and noted the removal of load bearing walls, pending further investigation by a chartered building surveyor or structural engineer. I wasn't willing to foot the bill for this, and therefore the vendor contacting…

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qad007 Posts: 10 Forumite

21 September 2020 at 2:33PM

Thanks Kingstreet, you have given me a level of re-assurance, the vendors building insurance does not cover me for indemnity insurance purposes. The vendors structural report is half a page with no depth to the report, it is a visual inspection only. Surely the lender would need a solid structural report to ensure the property is suitable security. Is there anything I can do to ensure the mortgage value doesnt change? is it worth ringing the bank?

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Will my lender accept my vendors building insurance structural engineers letter!

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