I've seen a house today that we are considering making an offer on. It is in London so costs a lot and we will be stretching ourselves to buy it - but the housing market seems very much in the sellers favour in my particular area so I expect the house to go fairly quickly.
The only issue of concern for me is the ongoing insurance claim they have on it. I've been told that they (insurers) initially suspected subsidence caused by tree roots from a few houses away. They've had monitoring and all the usual subsidence stuff that happens. At some point a new surveyor has come on board from the insurance company and said it isn't subsidence but issues with an internal and external drain. That issue has apparently been fixed, no more movement but some minor works to be done which will be finished this week.
My concern is, is it going to be impossible to insure now for subsidence? How do I even find that out? It would I think defend on what sort of claim the insurance company thinks it is but it will obviously need to be declared to any future insurer. We live in a hilly part of London where there are lots of trees and London clay soil so we would absolutely need to have insurance for subsidence.
There is absolutely nothing coming on the market and we're just exchanged, it is our favourite road so everything else ticks the boxes.