Buying a property with subsidence issues

Buying a property with known subsidence is tricky as most lenders will decline this. Insurance will usually carry over or be continued with the same insurer but it will always have to be disclosed. This largely depends on the location of it and the severity so more detailed professional specialist reports are usually required and a remedial plan put in place. This can also impact future property saleability and would be a risk for new owners.

Buying a property with current or historic subsidence is a significant concern for homebuyers and sellers, affecting the value, safety and insurability. Causes such as soil shrinkage, tree root movement, leaking drains, poor consutruction and areas of historical mining can all contribute to the degradation of foundations. Subsidence in isolation doesn't necessarily mean that the property is condemned. If the property is not insurable, it will not be mortgagable and if it is, expect to pay a premium. Costs of repairs can be expensive too, with underpinning, removal of trees, and resulting structural repairs all common. Get quotes from expert contractors and ensure appropriate certifcation will be made available. Any repairs will be subject to long-term monitoring. Bridging loans can be a solution to unmortgagable properties, allowing for the purchase and subsequent repair, enabling the buyer to bring the property up to a standard that mortgage lenders would consider adequate security.