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Mortgage Advisor & Director
Can I get a mortgage on a house that's been underpinned?
As long as the property has been underpinned to a high standard and the subsidence issue has been resolved, there is no reason why you won't be able to get a mortgage on an underpinned property.
With existing subsidence issues, you won't be able to get a mortgage or insure the property.
For underpinned properties, we would recommend you use an experienced mortgage adviser. They'll be able to recommend the best lenders to approach and boost your chances of mortgage approval.
What does underpinning mean?
Underpinning is a way of securing the foundations of a property that has suffered from subsidence, which means that the property's foundations have moved since being constructed.
It isn't always clear that a property needs underpinning, and it may be more subtle signs such as cracks around windows or doorframes that alert you to a potential problem. The property could lean to one side in the most severe cases, indicating a building survey is urgent.
If you're concerned about the structural integrity of your property, you should seek out professional guidance from a Chartered Surveyor and a Structural Engineer. They will perform an inspection of your home and produce a report that details any potential issues, including whether the property needs to be underpinned.
When a property is underpinned, the existing soil is removed and replaced with new, stronger materials to improve the structural integrity of the building. If not performed, the property could be deemed unsafe and even be at risk of collapse.
What causes subsidence?
There are several causes of subsidence:
- The soil has been moved by the roots of a tree
- The earth has been washed away from the foundations due to a broken drainpipe
- Fluctuations in the weather, such as extended dry or wet spells
Some types of ground are more susceptible to subsidence, such as clay or silt, and also heavily built-up areas such as cities can suffer more from subsidence.
Should I buy a house that's been underpinned?
No house is perfect, especially with older properties; there are bound to be issues of one kind or another. In the past, subsidence was viewed as a more serious problem than it is today. Thanks to modern solutions such as underpinning, it's possible for houses that have suffered from subsidence to be bought and sold without too much concern.
As a buyer, you should consider that when you come to sell in the future, the thought of an underpinned house will put some buyers off. Although it may not bother you, this could reduce the number of potential buyers in the future.
In many cases, houses that have been underpinned are actually more structurally stable than houses without any subsistence issues. That being said, you should always get a structural survey of the property if you suspect current or historic subsidence issues or if you know that the property has been underpinned. Sellers legally have to declare if the property has been underpinned.
Does underpinning affect property value?
Yes, some estimates put underpinning at reducing the value of a property by 20-25%, although this will depend on how severe the issue was and how long ago it happened. The quality of the remedial work will also play into the value of the property.
Apply for a mortgage in minutes
At Teito, we've helped many people just like you to get the best mortgage on an underpinned property. Taking away all the unnecessary and time-consuming steps, we've evolved and streamlined the mortgage application process. The end result is a simple, stress-free online process that leaves you to worry about more important things in life! As a whole of market service, we have access to thousands of mortgage deals, including those from providers willing to lend on underpinned properties.
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Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
