PREVIOUSLY UNDERPINNED PROPERTIES
Insuring properties that have previously suffered from subsidence and have
subsequently been underpinned is virtually impossible . The only hope is
to continue cover with the existing insurer. But this option can
disappear when the property changes hands and a new owner requires cover
to satisfy lender's requirements.
"I CAN'T BUY THE HOUSE I WANT"
When a prospective purchaser finds the house they want,
a survey and search will usually determine whether the property has
incurred subsidence and has undergone remedial work. This is when the
chain regularly breaks down and all the preparatory work carried out by
Lenders, Brokers, Estate Agents and Surveyors amounts to nothing.
AN EXCLUSIVE SCHEME! (Established 1993)
We are pleased to announce to an Exclusive Insurance
Scheme that offers full cover for properties that have been affected by
subsidence but which have subsequently been underpinned (or which have had
authorised remedial work carried out upon them) and which are passed as
acceptable by our survey department. We believe this to be an important
breakthrough allowing purchasers of property, probably for the first time
ever, the chance to obtain bona fide buildings insurance cover on
residential property that has suffered from subsidence.