OK, so i'm getting the jitters, I'm concerned that the negatives of buying a house that has been underpinned may well outweigh the positives?? Some input from you guys would be helpful...thanks

Question:
Would you buy a house that's been underpinned?

Choices:
Yes
No
Depends...input please?

 

Hi again elsbells - welcome back. There are several threads on this subject if you search and I have commented on them before. I bought a PUP (previously underpinned property) in January 2007 but there are a number of pitfalls of which you should be aware. Generally resale is affected where a house has been underpinned because the public has negative sentiment (usually without reason) so you must be prepared to face this in the future when you come to sell. Of more immediate concern, however, is obtaining buildings insurance. I don't know if you have made any enquiries so far but if you do you will find the door slammed in your face by 99.99% of all the mainstream insurers. They don't want to know why the house was underpinned or if there is any possibility of it sliding again, they will just walk away from the discussion. I obtained insurance via the Halifax but they have me over a barrel now as I cannot change insurers and just have to put up with whatever premium hikes they choose to impose in future. So far they remain competitive, but who's to say that will last? The fact that you have no paperwork relating to the underpinning will be a further serious obstacle and you may find that the only company prepared to cover you is the existing insurer. But then again if the works were carried out without their knowledge or sanction then they may withdraw cover altogether (including from your vendor!) Make these sorts of enquiries now before you devote much more time to the house. If you cannot insure it you cannot buy it, end of story. I don't want to sound gloomy because I didn't let the prior underpinning put me off my house, but there were exceptional reasons why many people were keen to buy the property irrespective of its wonky background.

Hi susiecam!
thanks so much for the information, I should have course searched the forum, how lazy of me! , I shall do!
Your reply has given me a lot to think about, I've never pulled out of a house sale before and I'd feel wretched about it but I'm not sure that this one is going to be worth the heartache, lots to think about....thanks again!

No, based on the information you gave in your previous Thread that the work was done by the owners, who did not hold professional qualifications and cannot guarantee the work.

It is not wrong to pull out because you discover information that makes the property more of a risk / less desirable than when you first offered.

Ary.