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Moderate - Significant subsidence risk

We were planning to buy a property in MK 10 post code. It is new build. Environmental searches have shown: 1- moderate to significant risk of subsidence. We are aware of the NHBC warranty but are concerned about the resale value in the unlikely case of subsidence occurring. Any thoughts? 2- significant risk of groundwater flooding. We're not sure what exactly does this mean in terms of future value of the property. Apparently insurance does not take this into account. 3- there was a gravel pit, in 1991, just 10m north-east of the property. This might have led to the risk of subsidence. What is the best way forward? Should we asked the developer? If we do so they are obviously going to try and reassure us. What kind of assurances will be reassuring? Would be grateful for any advice.

Asked on Jan 10 2017, New Homes in Milton Keynes | Report content

Answers (1)

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  • Definitely sounds like trouble. I would hold back until you have done a full investigation of this issue. Yes, you should approach the developer and only proceed with the purchase if they are willing to resolve the situation at their expense. Only move forward when they have issue a RICS approved survey showing that there is little or no risk of subsidence/groundwater flooding. You´ll probably struggle to find a mortgage on this property anyway.

    Web reference: https://www.propertysolvers.co.uk/

    Answered on Jan 12 2017, Report content

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