"Paul White" wrote in message ...
Apologies if this is the wrong group - if so could someone suggest an
alternative.

We are in the process of buying a house (actually, TRYING to buy would be a
more accurate descirption !). The vendor bought the house cash, had a
structural survey done and had everything put right, paid for out of his own
pocket.

Part of the work included undepinning of the gable wall. The work has been
supervised by the strucutural surveyors who originally did the report and
has been given a certificate of completion by the planning department of the
local council to prove that building regs have been complied with.

Our lenders (the Nationwide) are being very difficuly with the mortgage
application. They are refusing to provide their own insurance (fair enough)
but are insisting that any buildings policy we take out has "normal
premiums" and a subsidence excess of no more than £1000.

What I don't understand is, what difference does it make to the lender ? So
long as we have sufficient buildings insurance surely the premiums and
excess are irrelevant ? They also seem concerned that the underpinning was
not done under an insurance claim by the current vendor. Surely the
important factor is that the work has been done to a high enough standard
and signed off by the relevant people ?

Does anyone know of any companies who insure previosuly undepinned
properties ? Apart from Bureau Insurance Services who I have already
contacted who have advised that their normal subsidence excess is £2500.

Comments on the Nationwide's stance also appreciated !


Hi Paul.

Subsidence is a funny subject - well its not, but insurers and
mortgage cos get very funny about it. As long as you have official
paperwork that states all is fixed there shouldnt be a problem - but
there always is.

There are many cos who will insure your situation and worse ones, just
talk to the high street brokers who will be able to steer you to the
ones that do this. Mostly its smaller companies.

Really this whole area has turned into a right game nowadays. The
stories about mortgage requirements are sometimes farcical, and really
demonstrate that a lot of companies simply dont have the technical
expertise to make reasonable decisions.

Its a game of pass the buck, who cares what it costs the buyer, and
how can we wriggle out of our responsibilities.

But you shouldnt have any prob gettnig insurance, even if many
companies wont touch, it some will. Try Royal + Sun Alliance for
example, I know of them knowingly insuring properties with bigger
issues than yours.


Regards, NT