Homebuyer survey- asbestos reportable to lender?

[movingyay]

Hi there, we received our homebuyer survey and it states that it's likely there is some asbestos (typical of house age etc etc) We were considering negotiating price and we're going to discuss with our solicitor....but would this be something the solicitor would need to report to the lender? Could it affect our mortgage offer? TIA

No.

was the valuation affected?

My buyers’ survey revealed that our house ‘might’ have asbestos but it turned out the textured paint was just… paint. There may be some in some doors—but panelled in and completely sealed and harmless. The garage roof is apparently asbestos but of a low-risk type that wouldn’t be hard to replace when they rebuild it as a summer house.

We refused a price reduction on asbestos. Let them have a little off for something else as a sign of goodwilll, but as the valuation wasn’t affected and actually the same as their offer, I wasn’t minded to take them too seriously.

He said he put the valuation at £5k lower for this reason. The lenders drive by valuation was ok for what we offered.

It gives the normal talk of if left undisturbed it's not a prob but it should have been removed when the owners did some work in the affected area, instead they didn't and worked over it

Any house built before around 2000 will have some mention of asbestos in the survey. It’s incredibly common. Your mortgage company don’t need to know more would they care.