Equity Release After Subsidence or Underpinning

A history of subsidence or underpinning can make mortgage applications more complicated, but it does not automatically prevent later-life borrowing. Equity release after subsidence or underpinning can sometimes be considered where the underlying problem has been properly resolved and the lender and valuer are comfortable with the property.

The circumstances matter enormously. Historic movement that was professionally repaired and has remained stable for many years is very different from active structural movement. We therefore look at what happened, when it happened, what remedial work was completed and what evidence is available.

What evidence might a lender need?

Structural reports and guarantees

Depending on the case, useful documents can include structural engineer reports, underpinning specifications, completion certificates, guarantees, insurance information and evidence that any monitoring period was completed satisfactorily. If the work was recent, lenders may apply more detailed requirements.

Valuer assessment

The valuer will consider the present condition of the property and whether there are signs of ongoing movement. They will also consider marketability and whether a future purchaser would be able to obtain normal finance.

Can a previous decline be reconsidered elsewhere?

Potentially. Lenders have different property criteria and specialist ranges may consider cases that sit outside another provider’s policy. Equity release on an underpinned property therefore deserves an individual check rather than an assumption that all lifetime lenders will reach the same decision.

What’s your question?

If your property has suffered subsidence, structural movement or has been underpinned, tell us roughly when and what work was completed. Get in touch with your property location and postcode and let’s get your particular property checked.

Call David on 07779 819891 or use our Later Life Mortgage Checker and enquiry form.

See more examples in our unusual property guide.