Subsidence is a serious matter that can affect the structural stability and value of a building adversely.
Subsidence happens when the ground moves under your house, causing it to become unstable and to sink. The foundation of the building is weakened by this and cracks emerge.
Due to leaking drains, trees too close to the foundations, shrinking clay soil and drought, subsidence can happen. This can have a serious effect on the ability to get Mortgages as https://www.samconveyancing.co.uk/news/mortgage will highlight.
Do not associate subsidence with settlement (cracks as the ground underneath adapts in new buildings), heave (when the earth shifts upward and landslide or landslip (when land gets swept away, taking the foundations or parts of the property with it).
If there is subsidence in your dream home, seek professional advice prior to purchasing. A chartered surveyor is willing to advise you on the required remedial work. Subsidence issues could not be observed without a complete structural survey. Your surveyor will advise you on whether any work is merely cosmetic or more important.
Your home insurance policy will be invalidated if you do not report a history of subsidence. The best strategy is integrity. The information form of the seller asks if underpinning or remedial works have been done and what is the state of your insurance policy. If you offer incorrect details, you may face a lawsuit for misrepresentation.