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Retention On Re-Mortgage

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uncletom6 | 18:01 Sat 18th Jul 2020 | Property
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Lender valuation queries asbestos. I had a specialist report done, which indicated a small amount in one room needed removing (artex). I have removed the artex and had the room re-plastered. A family member who is a plasterer by trade but not his main job did the work for me. The surveyor has now carried out a re-inspection but he was very arsey to say the least! He asked me how the work was carried out so I told him the damaged part of the old artex removed and plastered over. The 2 intact walls and ceiling were plastered and about 3 coats of PVA. He didn’t seem satisfied so I now have to wait and see what his report says. If he tells the lender he isn’t satisfied then I presume they won’t release the retention. But I can’t prove that the old artex was removed unless I take the whole new plaster off! Not sure where I stand on this one.
Is the release of the retention down to the surveyor or the lenders underwriter ? Thanks

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So-called "surveyors" screw up more such jobs than is ever really justified.
Old Artex is not terribly hazardous in the first place. It certainly isn't when isolated.
With hindsight, I would have removed all of the Artex, and called him back in to witness that it had been removed. I guess what he's worrying over is that only the damaged bit was removed.

All you can do now is wait until the report has gone in, and challenge it. In my opinion, the "hazard" has been contained by isolation, but I'm not the one "ticking the box".

It's the lenders of course who decide whether to release or not. But, in today's ever so safety-conscious world, they would normally go with the surveyor.
See what he says, and do come back to us.
Question Author
Thanks, will do. If he had stated he wanted to see it removed then he could but he didnt so we just did what we thought we had to. The asbestos report showed a picture of the damaged artex and that was the only damaged bit, the rest was intact. You'd have thought it was safest to leave it. Again the report said it was a very low change of potential fibre release. Surveyor was very young so probably covering his bum. If he doesnt recommend releasing the retention, can we appeal it?
Yes unfortunately it is, but you can get your own independent report and submit that.
^^^ then appeal.
From the lenders point of view, if you had an invoice detailing all the work done from a plasterer that could be verified, ie, belonged to a trade association I would have been satisfied.
Question Author
Thanks
Yes, Tom, he should have asked to see it before plastering. He didn't, so he's worked himself into a corner.
Experienced surveyors are worth their weight... but a young one?
Definitely covering himself in his inexperience.
If the report is not good, then impress on the mortgage company that you did what was necessary, and that inspection was not insisted upon.
After all, it's only a retention. Certainly not a big part of the valuation. Tell them (preferably in writing) that you did what you were told, and have complied with the surveyor's instructions.

Let us know how it goes.
Question Author
Thanks, this is what the specialist report said, and this is what we did. It never mentioned replaster, but we did. And to be honest it looks great!

Advised Actions
Remove - The material is subject to future refurbishment / demolition or in poor condition with the risk of further disturbance.
This advised action is the opinion of the surveyor on site at the time of inspection.
As, at no point were you advised to have the work checked prior to re-plastering, I would tell the lender you are more than happy to have it checked now.

Tell them if it does not pass still (with valid reasons given) you will pay for the re-work but if it passes, they or the surveyor will have to pay for the re-work.
Question Author
Ive had it re checked. It was the same valuer who did the original valuation.
As you said, you cannot prove the old Artex has been removed without removing the plaster.

That is what I meant about your being happy to remove the new plaster as long as the Lender or original survey pay for the re-work if your version of events is confirmed.
Question Author
Ahh right. Nice one. Thats what I'll say! I will keep you posted.
Question Author
Still waiting. I've chased this all week and now i'm getting that the report has had to go to a senior underwriter before going to the lender!! So sounds like he's not happy with the way the job was carried out. I'm ready to fight it though as the job was done right and looks good. Unless he has picked up on something else. If that's the case then again I will fight it as the only room on the specialist room which stipulated work need doing was that one room.
So frustrating! This is holding up the entire mortgage chain so i am getting mithered constantly.
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Still waiting .......

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Retention On Re-Mortgage

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