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Mortgage Valuation = 'full Retention'

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Have had an offer accepted on a three bed end of terrace house. However, the mortgage valuer has said no money should be lent on the property until a full structural survey is carried out. (I am told this is quite rare!) Had a homebuyers report done also and they both agree there is some evidence that subsidence may be or may have occurred. I understand there is a chance the lender will not be lending any money on the property in which case I will not be buying.

Even it is fixable I would have the problem of having to sell it with that 'history' thus reducing it's value. The property has some significant advantages over others in the same area. I know the vendor is keen to move due to personal circumstances (bro and sis living with hubby). The agent has told me "obviously there will be a negotiation on price". I told the vendor I was not willing to continue with the deal unless they paid for the full structural which they agreed to do and am currently awaiting the result.

So, if the survey is not totally damning, what should my next move be? Steer well clear? Or, put in a significantly reduced offer?

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The survey will be totally damning, even if the house is fine. That's in the nature of a survey!

Since you clearly like the house, I'd say build your bottom line on where the professionals put their own money:

  1. Is it mortgageable?
  2. Is it insurable against risks including subsidence?

Plus of course, the price.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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