Is it possible to get a mortgage on a property with structural movement in part of the building?

[sauvagesaucisse]

Property is listed to ensure upmost unlikelihood but I have found the property of my dreams and I know I should walk away but I’m really curious assuming the issue could be fixed with underpinning.

No, you'll probably need to buy the property with cash (or consider a bridging loan), address the issue, and then remortgage afterward. Just ensure you do your numbers right—make your offer based on the asking price minus the estimated cost for the underpinning work.

It depends whether it's historical movement. If it is, the seller will need to get a certificate of structural adequacy to be proceedable for mortgage and insurance purposes. Often it's the insurance which is a bigger stumbling block than the mortgage dependant on price.

Our house had a certificate of structural adequacy when we bought it following previous movement. We have a mortgage (although not sure that would have been possible without the certificate) but as previous poster mentions we need to get buildings insurance from a specialist insurer (via a broker) and it is a LOT more expensive. We’re hoping that in time the insurance will come down if there’s no further movement.

@SocksShmocks do you think if you did repairs the insurance might come down earlier as well or is it a case of wait and see regardless?

Also did you have to have a higher deposit for the loan? I’m wanting to lower my deposit and put the cash left over to repair the property.
thanks!

Our house had a collapsed drain when we went to buy it which had caused subsidence. We got the previous owner to claim on their insurance and get it fixed, which then provided a guarantee from the company who had done the work and also meant we could get a cert of adequacy before completion.

We then went to a broker for insurance. It’s been marginally more expensive but not significantly (around 15%, we have never paid more than £600 a year for insurance). It is decreasing year on year.

I would get a good surveyor on side and get a full structural survey done if you haven’t already. You will then know exactly what you’re dealing with and how much it’ll cost to put right. You can then approach it with the seller/the bank to get the figures you need to proceed.
We bought ours with a 90% LTV mortgage and had no issues with our bank, they were happy to lend without the survey as it was priced accordingly. We did the survey for our own purposes so we could negotiate/get work done by the seller as needed. Doing so saved us around 25k overall.