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Hello everyone,

 

I am fairly new to property investment, am in the process of buying my second BTL property and the environmental searches have come back with a moderate to high risk of natural ground subsidence (I have not yet had my survey done). Has anyone else had the experience of dealing with this finding? My solicitor is very dismissive of the issue, my broker not so much.

 

Thanks for any comments anyone has!

 

 

Vanessa

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Hi Vanessa,

 

I have found some information online, which you may find helpful:

 

A spokesman from Landmark said: The replies given in section 4b of the envirosearch report are based on the 1:50,000 Geosure datasets provided by the British Geological Survey. 

The Geosure datasets cover the following hazards and give an indication of potential ground subsidence from natural sources:

• Potential for collapsible ground stability hazards

• Potential for compressible ground stability hazards

• Potential for ground dissolution stability hazards

• Potential for landslide ground stability hazards

• Potential for shrinking or swelling clay ground stability hazards

• Potential for running sand ground stability hazards

The possible rating levels for this dataset are high, moderate, low, very low and no potential.

In this case, the report is advising that at least one of the above hazards has been identified at a 'moderate' level. 

It is reporting the worst case scenario across all of the above hazards within 50 metres from the centre of the search.

 
 
Have you found a Surveyor to inspect the property? This will be your next step, in finding out more detailed information about the property and whether there are any signs of historical or current structural movement or subsidence. 
 
I am the Director of a national a brokerage for RICS Chartered Surveyors, so please let me know if this is something we can help with. Our website is: www.surveybooker.com.
 
Kind regards,
 
Zak
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Thanks Zak for your detailed advice. As it seemed that it would be hard to insure the property, I have cut my losses and moved onto another property. That said, I have saved your details for future use. Thanks again, Vanessa

No problem Vanessa, good luck with the new property and please do get in contact if we can help with a survey. We have a number of experienced Chartered Surveyors based in Peterborough who will really help you maximise the returns from your investment.

Zak

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Hi Vanessa,

 

I'm very new to investing! I have a property that I specifically bought in a village just outside of Peterborough specifically for family to let out and I am now looking for my first proper buy to let in Peterborough.  Planning to buy a fairly boring standard buy to let for this one, close to the town centre.

 

Interesting to hear you are looking into HMO's, is your first buy to let a HMO?

 

I'm planning to get along to the next meet up, but if you fancy a coffee in the meantime give us a shout.  Perhaps we could try a get a few local investors together for a more relaxed chat about property.

 

Holly

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Hi Vanessa,

 

 

I'm very new to investing! I have a property that I specifically bought in a village just outside of Peterborough specifically for family to let out and I am now looking for my first proper buy to let in Peterborough.  Planning to buy a fairly boring standard buy to let for this one, close to the town centre.

 

 

Interesting to hear you are looking into HMO's, is your first buy to let a HMO?

 

 

I'm planning to get along to the next meet up, but if you fancy a coffee in the meantime give us a shout.  Perhaps we could try a get a few local investors together for a more relaxed chat about property.

 

 

Holly

 

Holly,

 

Yes would be great to meet for a coffee and Peterborough property chat! My email is vanessa.broad@hotmail.co.uk If anyone else is interested in joining us for an informal comparing notes session,why not respond to this thread/email me and I am happy to co-ordinate.

 

Thanks,

 

Vanessa

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  • 1 month later...

Hi, I am currently looking at investing in peterborough and I will appreciate if anyone who knows that location very well to please contact me. I also understand that the PE1 and and PE4 are great areas, depending on your strategy. 

Moreso, the selective licensing coming up is something to be considered also.

Hoping to hear from that one that can throw some more light in the best way to thread safely as a new investor in that area.

Roland

 

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Hello all, in the Peterborough area I have a BTL in Spalding and Woodston and currently purchasing one in Fengate as well. Peterborough market is pretty good at present depending on what you're looking for.

 

I've been wanting to get to a local meet up for a while but never had many too close so will certainly keep tabs on anything in and around Peterborough for a possible meet up! :D

TPH-Chris-Barnard.jpg

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