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Misrepresentation act - Subsidence
Comments
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We moved house to get into school, and paid through the nose on the mortgage rate. The remortgage company stated there was a problem and wanted a RICS surveyor. He noted that work had been done and the movement has stopped.TripleH said:It might count against you that you only had a basic survey as your vendor would argue 'a full survey would have picked it up, buyer remorse due to lack of due dilligence'If you bought in January 2021, why are you changing mortgages?Also I can't see how you would have had a previous insurance charge for this flat. Bills vary from property to property and whilst your bill is higher than expected, this might not be an issue if similar properties in your area / even this country have gone up proportionately as well?
To remain on topic the vendor was asked if there was any history of subsidence and answered no. Based upon the work done to the flat, he would have known there was an issue but didn't disclose.0 -
when did you purchased that property which had a history of subsidence?
You should check before purchase, how many times your vendor made a subsidence claims and total amount as well.0 -
Right, but why do the insurers only now have an issue with the claim from 11 years ago?nomadicrebel said:
We moved house to get into school, and paid through the nose on the mortgage rate. The remortgage company stated there was a problem and wanted a RICS surveyor. He noted that work had been done and the movement has stopped.TripleH said:It might count against you that you only had a basic survey as your vendor would argue 'a full survey would have picked it up, buyer remorse due to lack of due dilligence'If you bought in January 2021, why are you changing mortgages?Also I can't see how you would have had a previous insurance charge for this flat. Bills vary from property to property and whilst your bill is higher than expected, this might not be an issue if similar properties in your area / even this country have gone up proportionately as well?
To remain on topic the vendor was asked if there was any history of subsidence and answered no. Based upon the work done to the flat, he would have known there was an issue but didn't disclose.0
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