I’m applying for my first mortgage and following the valuation the lender has asked for a structural engineer report. The values made comments regarding structural movement within the property and evidence of cracking.
This came as a surprise as it’s a fairly new building and very well maintained. Obviously that’s not to say it couldn’t have structural issues but lots of buildings have cracks etc and they aren’t always a concern.
The report is going to cost around £500 which is fine if it gets things moving and puts to bed concerns. Obviously if there are issues then that’s another matter.
The vendor has said she has no knowledge of any issues. I also contacted the estate agent for a flat in the same building which sold recently, they also have no knowledge and nothing came up in the valuation.
Has anyone else experienced this? What happened? Do lenders often ask for this and are they being overly cautious?