Historical subsidence

[CaramelWaferAndTea]

Name changed as possibly identifying but been here a while!

We are trying to move within London. Sold our house and have to be out in 6 weeks now.

The house we are buying has however at the last minute come up with some serious problems. We had a survey indicating possible subsidence, and then a structural engineer report indicating it was sound, historical movement only, but a couple of wall cracks needed some minor, largely cosmetic work. We thought little of this at the time. However, we are now at exchange, and cannot get buildings cover due to historical movement. The seller is uninsured so we can’t take over their cover. They have offered to do the work themselves but I am now worried about it being done off-insurance.

I have scoured the internet but can’t find any information about this - it seems to be the assumption that the seller’s insurance company should be involved.

Should we just run a mile? It’s a lot of money, and there are other houses, but we have spent a lot of time and money so far and mental effort, so don’t want to run if that’s unreasonable!

I think you will still struggle to get buildings insurance whether or not the seller does the work so - do you want an uninsurable property?

Many years ago when buying a house, the survey caught something and we paid for a full structural survey which suggested the house needed to be underpinned. Seller offered to pay for this. Ultimately we didn’t buy this house as chain fell through but not from us and not for this reason.

Using a broker, we had identified an insurance company that would provide cover upon completion of the work.

Our house has historical subsidence and we have had no problem getting cover. Maybe try calling companies directly rather than do it online?

Historical subsidence that’s been sorted out and there is no further movement happening should not present a problem for insurance. Use a decent broker. The current minor work is neither here nor there. Make sure the vendor gives you all the details of the repairs if they have them so you know exactly what work was carried out.

I used to live in a house with historical subsidence issues. I had to go through an insurance broker but they never had any problems sorting out insurance for me and it never seemed hugely expensive. It was less than I pay now on a 20 year old house of a similar size.

How old is the subsidence issue? There are a few insurers who are only interested in movement within the last 10 years. We live in an ex coal mining area and it's fairly common for houses to have historic movement. We had no issues insuring with legal and general as the movement was 25+ years ago.

I read somewhere you should ask to speak to the underwriter at the insurer to help get cover in this sort of situ. I feel your pain as the house we’d like to buy was underpinned and we found out late with a lot of unanswered questions.. Try Highworth broker (expensive), Flux . There are a few who might cover you

We have it and we currently insure with M&S. When we first bought we struggled to get cover and paid over the odds. We went to renew and it doubled in price but we had contents with M&S and we got it added on. Full disclosure made obviously.

The cracks could also have been caused by failing wall ties (which can be easily remedied). Have they been checked?