Buying a house that hasn't had building insurance

[bracingair]

Almost ready to complete on house circa 1900(?) The sellers have lived there for years with no mortgage (and no upkeep of the house!) and havent had building insurance.

We did pay for an expensive surveyor who said on the phone when he left that he would think whether to recommend a structural engineer (there were some sign of subsidence). In the end, his report did not recommend having a structural engineer in.

A friend who is a builder also saw the house and said that the subsidence is usual for the area (London clay).

DH wanted to save the money on the structural engineer if it wasnt recomended, but now worried to find out that they never had ins. What do you think?

Thanks!

sorry, meant to say exchange on a house (not complete)

off to see to the kids, will be back soon...

If you have a mortgage on the property I am pretty sure you have to have insurance. You would be mad not to. It does not matter if previous owners chose not to insure.

Not clear if you mean they never had insurance because it was refused, or because they took the risk and never bothered/let it lapse?

we will have ins of course. I think they didnt have it because they didn't bother.

if your survey says there are sings of subsidence then you will need to declare it to your insurer. its not a big issue, i wouldnt worry too much about it.

Survey doesn't recommend structural engineer so I wouldn't worry. I assume this c1900 house is somewhere in the SE? Virtually all of the SE is on London clay so there is always a chance of subsidence.....but remember just how many people actually live in the SE!

glad to hear it is not such a problem - was worried!

DH had emailed the surveyors report to a broker (so is declared) who quoted under £500 for the ins with a £2000 excess for subsidence.