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Mortgage Advisors?

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By *oxy_minx OP   Woman
over a year ago

Scotland - Aberdeen

In connection with a recent subsidence problem my block has had, due to a neighbouring building development not doing their due diligence, we have a clause written into the agreement for repairs that includes a 'loss of value' clause.

We've had 2 solicitors so far but they have since quit the firm so my now need to find another solicitor, however, my problem is both solicitors had differing views about what 'loss of value' meant.

One thought it was the difference in prices from before it happened and the other thought it depended on if a mortgage company would give out a new mortgage or not, so therefore we might not be able to sell due to the issue.

So my question is (as I am too scared to ask my own mortgage company) Would Building Societies or Banks give a mortgage to a New Buyer on a property where the foundations have been reinforced due to this problem, yet everyone is loathe to say it was underpinned as it was concrete that was poured underground, without any 'pinning' ie with scaffold etc, as it was poured in from the boundary lines and not directly under our property if that makes sense?

We are just trying to gather some info and research before we head off to yet another different solicitor, so any info or suggestions are greatly appreciated.

Apologies, for the non sexual content

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

I don’t know anything about buildings or anything but it sounds like it’s not underpinning (whatever the definition is) cos it’s not under and not pinned. Just sounds like the boundary and footings or foundations have been strengthened from their side. Which should be ok. Maybe an independent builder type report could be done?

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By *oxy_minx OP   Woman
over a year ago

Scotland - Aberdeen


"I don’t know anything about buildings or anything but it sounds like it’s not underpinning (whatever the definition is) cos it’s not under and not pinned. Just sounds like the boundary and footings or foundations have been strengthened from their side. Which should be ok. Maybe an independent builder type report could be done? "

I know, the council say underpinned the development site says no. We are waiting on an 'independent surveyor' to be appointed to do the valuation, but we also need to do our own investigation for our own peace of mind so we know how to proceed things in the right direction, but thanks for you opinion as I tend to agree with you

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By *ouple in LancashireCouple
over a year ago

in Lancashire


"I don’t know anything about buildings or anything but it sounds like it’s not underpinning (whatever the definition is) cos it’s not under and not pinned. Just sounds like the boundary and footings or foundations have been strengthened from their side. Which should be ok. Maybe an independent builder type report could be done?

I know, the council say underpinned the development site says no. We are waiting on an 'independent surveyor' to be appointed to do the valuation, but we also need to do our own investigation for our own peace of mind so we know how to proceed things in the right direction, but thanks for you opinion as I tend to agree with you "

Can you all not wait for the independent surveyor to carry out their inspection and compile a report..?

Respect peace of mind and wanting answers is important but if several of you or collectively appoint another that will cost and if any reports differ then that could be something to possibly be exploited?

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By *entleman JayMan
over a year ago

Wakefield

My morgage advisor was on fab. True!

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By *oxy_minx OP   Woman
over a year ago

Scotland - Aberdeen


"I don’t know anything about buildings or anything but it sounds like it’s not underpinning (whatever the definition is) cos it’s not under and not pinned. Just sounds like the boundary and footings or foundations have been strengthened from their side. Which should be ok. Maybe an independent builder type report could be done?

I know, the council say underpinned the development site says no. We are waiting on an 'independent surveyor' to be appointed to do the valuation, but we also need to do our own investigation for our own peace of mind so we know how to proceed things in the right direction, but thanks for you opinion as I tend to agree with you

Can you all not wait for the independent surveyor to carry out their inspection and compile a report..?

Respect peace of mind and wanting answers is important but if several of you or collectively appoint another that will cost and if any reports differ then that could be something to possibly be exploited? "

We are actually trying to chase this up, even though it is in the agreement and should have taken place weeks ago, it seems to be a low priority so that is why we need to do our own research to know what we may be dealing with.

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