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I’m buying a property that has had three insurance claims in the past 20 years, with the most recent one within the last five years. Before making the purchase, I was told that the front bay window had subsidence caused by a public tree, which the council had removed, and a structural stability report was provided. This explanation seemed reasonable to me, so I made an offer, and it was accepted. During the legal process, however, my solicitor discovered that the situation is actually more complicated. The property had a bay window subsidence claim in 2010 caused by several plants in the front garden, which the owner removed. Everything appeared fine for the next eleven years, but then subsidence was discovered again, this time due to a public tree. Despite the tree affecting the bay window, the council refused to remove it, so the issue is ongoing . All insurers have rejected providing cover for the property; only the current insurer might accept it depending on the underwriter’s assessment, and I have no idea how expensive the premium could be, they don't even give me a quote at this stage unless the seller's provide their current insurance policy number (very strange requirement) In addition to this, the house has suspected drainage issues and a leaking incoming water main. The owner is aware of these problems but has been unable to carry out repairs—likely because Thames Water has not cooperated. Drainage issues are a nightmare for any buyer, and although the water main leak is less serious, it is still time-consuming to resolve with Thames Water. The property is not cheap, and others paying the same price are buying homes with much better potential. I feel very frustrated by the number of insurance claims; I would honestly prefer if the seller had made none at all. If the insurance premium ends up being over £5,000 per year, I will definitely pull out—not because I cannot afford it, but because it would significantly reduce the pool of buyers when I eventually sell. There are plenty of straightforward properties on the market, and my budget is strong enough to choose among them. I feel very exhausted. I wasn’t even that interested in the property to begin with, and now I’ve ended up in this embarrassing situation. -
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By Earl Aelfheah · Posted
Last time I looked, electric cars also cause congestion. -
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