Buying a house with damp is one of the most common problems that real estate agents encounter. In fact, damp can devalue a house by as much as 30 percent. This is why most people have to be aware of how to deal with damp before they buy a house. Claim for housing disrepair to your landlord to get free advice visit here.
Getting a lender to lend on a house with damp
Getting a lender to lend on a house with damp can be tricky. A survey of the property will pick up on the problem.
The best way to combat this is to make sure you have a reputable damp-proofing specialist. While you’re at it, consider a dampproofing guarantee. The right approach can save you thousands of pounds in repair costs.
The most common type of damp in a home is condensation. This is due to poor ventilation. A moisture-rich air inside the home is released onto cold walls, causing mould to grow.
This may not be a problem in some circumstances. However, it can be expensive to deal with. The lender will want to see a damp and timber survey before approving your mortgage.
The cost of repairing the damp problem will depend on the severity of the situation. The lender will set a deadline for completion, usually six months.
If you can’t find a mortgage lender willing to take on the project, you can try bridging finance. This will give you time to do the work, and eventually switch to a conventional mortgage.
Changing lenders could cause delays and extra costs. In the end, though, the best way to get a lender to loan on a damp property is to fix the problem.
Penetrating damp vs rising damp
Having different types of damp in a house can make the decision to buy or sell property very complicated. It can also affect health and well-being. In addition to the damage to property, the occupants of a damp-infested house can suffer from asthma and other respiratory problems.
Identifying the problem is crucial. If left untreated, a damp problem can cause further damage, and reduce the value of a house. It can also pose legal and health risks and is one of the reasons why it is important to deal with the problem before it causes serious problems.
Rising damp is caused when groundwater rises up through the walls of a building and also water leaks. It may be visible as a musty smell or as water droplets on the wall. It can cause cracks in plaster and rotting woodwork. It can also leave a white salt deposit on the surface and can damage the wallpaper.
Penetrating damp is a condition where water enters a house through cracks or holes in the walls. It is most commonly caused by rain seeping into the house. It can also be caused by leaking gutters or by defective brickwork.
Fortunately, there are solutions for both rising and penetrating damp. If you think that your house might be suffering from damp, you should contact a specialist who can carry out a damp and timber survey. They will be able to assess the situation and determine how much it will cost to repair.
Buying a house with damp
Buying a house with damp devalues its value by a factor of two or more. Buying a home with damp in the first place is not desirable, and the effects of damp are often more pronounced when the property is already occupied. A damp property can make a mediocre sale difficult, and even discourage prospective buyers.
It is important to know whether or not your property has damp before you attempt to sell it. If it does, you might not be able to sell it, and you may have to face a legal bill if you are found to be negligent.
There are a number of ways that you can deal with a damp problem. You can ask the seller to fix the problem before you sell the property, or you can hire a specialist to perform a damp survey.
The most effective way to solve a damp problem is to improve the ventilation in your home. This is particularly true in bathrooms, as condensation is a common occurrence in these rooms.
The best method of doing this is to install extractor fans. You should get several quotes before you make a final decision.
The most obvious solution to a damp problem is to fix the problem, but this is not always an option. Lenders are usually sceptical about lending money on a property with damp. You might have to find an alternative lender, or opt for a longer waiting period before you can complete your purchase.