Housing help/advice

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lauren123

Well-Known Member
Feb 3, 2007
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East Yorkshire
Hi all!
As i spoke about a while ago i am buying a house. The house itself its around 100 years ago. It had been under pinned though it was redned and a new survey done which brought up no issues. However i have had a email from the solictors saying i may not be able to get building insurance due to this. A new survey will cost 1k due to the age of the house. At present i am unsure what to do :(
 
Insurance is a minefield these days. If you want to know the situation for yourself, call one of the big providers like Direct Line and ask them what their policy is. If it sounds bad, then yes, walk away. An uninsurable house is not an asset.
 
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We live in an area of gravel hills where there is subsidence and some underpinning.
You could get an estimate (two or three) for the cost of doing this work and make a reduced offer.

But the asking price of the house may already have allowed for this,

Not getting insurance is now usual perhaps? When we bought our house the insurance included subsidence but the newer better insurance we took out for contents did not, so we used it for contents, fire and theft only and left the building insurance with the buidling society's original company.

The house two up the hill from us was bought and lived in by a builder long ago and he had it underpinned.
But we have lived in our house for 46 years and it hasnt budged.

However Edwardian houses with front bays often do have those bays slipping. Our daughter underpinned hers but we and our neighbours have done nothing.
 
I’d say I doubt you’ll get your mortgage without insurance as they normally insist you’ve got it before they will release the funds to the solicitor. I’d be walking away too buying a house is stressful enough without any extra worries.
 
I'd walk away.

It will most likely affect re-sell value & it may well limit your mortgage options, if not make it impossible to get a mortgage.

You don't want the associated hassle - now or in the future.
 
I’d call around a few insurers and ask them, if they are all happy then it’s up to you if you risk a house that could be hard to sell in future, if they won’t insure it then you won’t get the mortgage anyway so you won’t have a decision to make.
 
Sadly I would walk away and find a problem free house. It’s frustrating, especially if you have already paid out on solicitor fees etc. but the last thing you want is a house you can’t sell in the future. For me it would be too much of a risk.
 
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