Mortgage company can't get a valuation without a structural survey, damp report and timber report

[Rolypolybabies]

Has anyone had this? House is in need of modernisation, but the mortgage valuation has said it cannot proceed without a structural survey, timber survey and damp survey. Is this something we should run away from? Or stick with it for a bit and see if the vendors will agree to get the reports done? Thanks

Surely that’s som

Something you will have to pay for.

The vendors may agree to get the reports done as ultimately their house is unmortgagable currently and if you walk away they are going to have to sort it anyway. What does the report actually say about the structural report requirement, that is the major concern really.

The valuation survey had no more detail than that. The estate agent said the same as above, that the vendor may pay for the reports so they can sell it as otherwise will have to be a reduced cash purchase.
Thanks for the replies

Potentially a bit of a scam there. There's a scandal brewing with some lenders being in bed with PCA and damp proofing companies.

If you look at Peter Ward of Heritage House Consultancy, there's a good overview of his fight to stop this sort of thing happening.

Long story short, he's part of a team of experts writing a new set of rules for the RICS on what damp is and isn't (rising damp is a bit of a myth) and is insisting that any lenders and surveyors have to declare any associations with such companies and products.

Will try to link below. The former head of the RICS recently admitted that rising damp is a myth. Damp is generally a symptom of broken guttering, insufficient ventilation, repairs to brickwork using incorrect materials (e.g. cement or gypsum instead of lime) or ground levels that are too high.

The Heritage House website has loads of information on damp, the damp con industry and what to do in precisely your situation.

Just used them to do a survey on a house we're buying and currently rate them more highly.

Heritage House
www.heritage-house.org/building-surveys/valuation-surveys-wanting-timber-and-damp-report.html

Rising Damp Myth
www.architectsjournal.co.uk/home/-rising-damp-is-a-myth-says-former-rics-chief/5204095.article

Sorry for the typo - couldn't rate them higher!

BTW, no associations with anyone at Heritage House - just a happy customer.

I bought a house in the summer that needed renovation and it was a nightmare! My orginal lender insisted on a roof report, asbestos report and a damp and timber report and the property was down-valued by £20k and they wanted a £10k retention!

In the end I found a lender that valued it correctly and didn’t do retentions!