History of subsidence on first time house purchase
I am a first time buyer who is about to complete on a 3 bed semi detached property. I have major concerns as the survey identified that in 2006 a tree located on the pavement fell and caused minor damage to the front of the property. It was confirmed that the damage was the result of subsidence. The tree and leaking drains were noted as the cause. Minor repairs were made to the building, which included crack repairs and redecoration. The property was monitored for 4 years and it was confirmed that the property was stable. My concern now is that the council now have a permanent record of subsidence and the seller is paying £1000 a year in buildings insurance. I am concerned that the history of subsidence will always mean high buildings insurance premiums and will also deter future buyers from looking at buying the property of me 10 years down the line. Even if the building is still confirmed to be stable. I would appreciate any help with this issue before I think of completing.
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