Hi everyone,
I’ve found a few older threads discussing buying properties with ongoing subsidence, but I’m hoping for some more recent experiences or advice—especially around what mortgage lenders and insurers are doing about this issue these days.
We’ve made an offer on a fixer-upper that we absolutely love the potential of. The house has visible cracks at the front, and after consulting with a structural engineer, they suspect subsidence. The engineer thinks the problem is likely caused by a tree on the street, which hasn’t been trimmed by the council (it should be every 3 years). The engineer believes that once the tree is trimmed, underpinning shouldn’t be necessary. The seller is a company acting on behalf of an estate, so it seems like a probate property.
Like many, I’m in a position where I can’t afford a perfect house in the right location (London!). So, I’m weighing the risks and considering moving forward with the purchase despite the subsidence concerns.
I’d love to hear from anyone who’s recently bought a property with similar issues. Specifically:
- Did you decide to go ahead with the purchase?
- Which mortgage providers or insurers were comfortable with subsidence, if any?
- How did you negotiate with the seller (especially in terms of price or repairs)?
So far, I’ve only had an initial inspection from the structural engineer, and I haven’t applied for a mortgage yet. I’m considering HSBC or NatWest, but I’m unsure about how strict they are with ongoing subsidence or how it might affect the property’s value.
Any insights on navigating this situation would be greatly appreciated!
Looking forward to hearing your experiences and advice!