Underpinned | Mumsnet

Burnthurst187 · 2020-08-14T19:19:41+00:00

Would you buy a three bed semi detached that was underpinned in 1997? It's currently on at full market value, how much less would you expect it to be on at? Powis Grove, Kenilworth https://www.rightmove.co.uk/property-for-sale/property-67976433.html

fairydustandpixies · 14/08/2020 20:21

I think I'd be asking questions about the cost of insurance rather than whether or not to buy. You'll find you'll need specialist insurance that will cost considerably more.

Knittedfairies · 14/08/2020 20:24

I'm watching this thread with interest as we had to have our house underpinned 20 or so years ago.

user1471530109 · 14/08/2020 20:30

When I was buying about 3 years ago, a house came up that I wanted to view. In hindsight it was on for slightly cheaper than I expected.

The estate agent told me straight away that it was underpinned and that he advised I asked my mortgage lender if they would even consider it. He said most won't.

Now he could have just been trying to put me off after deciding I sounded like a nightmare . Incidentally it did sell and someone is currently living in it (it's close by to where I eventually bought).

Definitely don't pay market value as I would imagine you will find it harder to sell?

That seems v expensive even for Kenilworth? Have you considered living ever so further out?

stellabluesky · 14/08/2020 20:40

Our last house had to be underpinned - not all of it, just the front bays which were cosmetic extensions added in the 60s with poor foundations. This had been missed by the survey - but that's another story. We'd lived there for 3 years before we realised there was an issue and had it underpinned.

We had to go to specialist insurance but it was considerably cheaper than our previous insurance! We queried this and was told was that the underpinning had made the house 'rock solid' and unlikely to have any further issues so was a low risk. Also they said the reason you have to go to specialist insurers isn't as negative as people think, most grade II houses etc have to have this as well, due to the fact that most 'high street/online insurers' don't have enough knowledge to assess the risk. Our specialist insurer was recommended by our previous insurer and they were really good.

We had no trouble when we came to sell it two years ago. We had the underpinning done to a high standard, the previous insurance paid for it but then referred us to the specialist insurer, we had all the paperwork, got a survey done post completion etc so I would ask to see all these.

The buyers surveyor told them he had no issue with well underpinned houses if all the paperwork was there and also underpinning meant the risk of any further movement. Most older houses, particularly in certain parts of the country, are subject to movement . Also whilst you can change insurer if you buy the house, legally the current insurer has to continue to provide insurance and can't decide not to

stellabluesky · 14/08/2020 20:42

PS they had no trouble getting a mortgage and we didn't drop the price we had 3 offers for it

Whatsnewpussyhat · 14/08/2020 20:46

Our house had been underpinned in the front bays about 30 years ago.

Absolutely no issues getting mortgage and the insurance company didn't care as was done so long ago and no more movement. No extra cost or specialist insurance needed. We rang and asked before buying it to make sure.

Doodar · 14/08/2020 20:46

The whole property needs gutting, tiny kitchen and 2 small bedrooms. Are you planning to extend? surely there’s other properties with fewer problems?

Bluntness100 · 14/08/2020 20:50

I think that house is priced to reflect its condition already op looking at rhe others on the market. I’d see rhe under pinning as a positive as in the issue was resolved.

Original poster

Burnthurst187 · 14/08/2020 22:31

I'm not looking to buy this house. I was interested in a viewing but not after I got told it's been underpinned and I think the bathroom would be an issue, I don't even know if you can fit a bath in there

I've been watching the Kenilworth and Warwick market very closely for the last few weeks. Not really looking at Leamington. Kenilworth has very good schools

If this house wasn't underpinned and had a bath not just a shower then I think £300k would be a fair price, driveway, garage, cul de sac, opp a small green

I was told it sold v quick then the buyer pulled out. Personally I think they need to drop the price £20k.

OP posts:

Shelley54 · 14/08/2020 22:37

I'd rather buy a house that was underpinned properly than one in the same road that hadn't been checked. Not sure it always means a lower price...

KnobChops · 15/08/2020 08:21

@Shelley54

I'd rather buy a house that was underpinned properly than one in the same road that hadn't been checked. Not sure it always means a lower price...

This!

Also it was decades ago and it’s been fine since.

Lots of houses in our area are underpinned (shallow Victorian foundations and clay soil). Once it’s done it’s fixed and solid. They all sell fine in our area. The comment above about not being able to get a mortgage is a complete nonsense. The mortgage companies don’t even check for it!

Insurance is a bit more expensive (you often find it easier to take over the previous owners) with future subsidence excess about £1000. But there are specialist providers now who drop prices as they can properly assess things and realise that a property underpinned decades ago is unlikely to move again.

KnobChops · 15/08/2020 08:23

@user1471530109

When I was buying about 3 years ago, a house came up that I wanted to view. In hindsight it was on for slightly cheaper than I expected.

The estate agent told me straight away that it was underpinned and that he advised I asked my mortgage lender if they would even consider it. He said most won't.

Now he could have just been trying to put me off after deciding I sounded like a nightmare . Incidentally it did sell and someone is currently living in it (it's close by to where I eventually bought).

Definitely don't pay market value as I would imagine you will find it harder to sell?

That seems v expensive even for Kenilworth? Have you considered living ever so further out?

This EA was talking absolute nonsense. Mortgage companies don’t even check.

ramblingsonthego · 15/08/2020 08:24

I never understand the insurance costs thing. If a house has been properly underpinned it is normally the strongest house in the area and unlikely to move further! Why do the insurers rip everyone off with this? Yes a higher excess for future claims for subsidence but to charge massively inflated premiums is just wrong.

KnobChops · 15/08/2020 11:14

@ramblingsonthego

I never understand the insurance costs thing. If a house has been properly underpinned it is normally the strongest house in the area and unlikely to move further! Why do the insurers rip everyone off with this? Yes a higher excess for future claims for subsidence but to charge massively inflated premiums is just wrong.

It is wrong. There is literally no sense to it.

In my view the whole housing sales and insurance industry is due a massive overhaul. It’s crazy that searches take months and that people have no security until exchange.

Southwest12 · 15/08/2020 15:32

I sold my house in London seven months after it had been underpinned (for the second time) and had no issues, the buyers had no issues either. Most of our street had been underpinned at some point, my neighbours were done for the second time about 18 months before mine and my other neighbour was in the process of being under pinned when I moved out.