Pull Out Following Environmental Search?

Bigphil1474

user1977 said:

Bigphil1474 said:

Maybe ask your current house insurers how they see the risk?

I doubt insurers will tell you anything beyond what their premium would be for that postcode (which will take into account claims history etc). They don't ask "is the house built on an old landfill site" so you don't need to chat to them about it specifically.

So if they come back and say the premium is 4 times what they pay on their current property, you know it's probably a risk. I spoke to our insurers last year when we were moving and the person I spoke to was able to tell me all sorts about the property we were buying to explain why the premium was 40% lower than what we were paying on our house at the time, despite the newer house being bigger and much more shinier.

kimwp

I remember freaking out when a search came back saying my house was within xx metres of a coal mine. Then I reasoned that there were loads of houses in the area, with no incidences of subsidence (I think there was one, but for a different reason). I think if your provider is happy to lend you the money and you can insure the house, then those are pretty good assurances that it's not a risk to be too concerned about.