Securing a mortgage can be a complex and frustrating task, as there are many pitfalls and obstacles to overcome. One factor that's often overlooked is the need to assess the condition of any trees on or near the property. This issue could mean the difference between your mortgage application being approved or rejected.
If you're buying a house in Brandon, it's vital that you understand all the implications and consider obtaining a mortgage tree report* to improve your chances of success with mortgage lenders.
*Also called pre-purchase tree reports or the home buyers tree report.
And when you need a trusted expert to conduct a tree report for your mortgage in Brandon, Tree Surgeon Pro can be of assistance.
The idea is to alleviate concerns regarding any potential tree related damage from surrounding trees on the property. To be clear, it concerns nearby trees on the property and those outside the boundary, depending on their proximity, size and relevance to the property's overall safety and structural integrity.
The outcome of the report may impact mortgage approval either way, depending on the results.
While it might seem unnecessary to some, there are several benefits to this process as it helps the house purchase to proceed smoothly and gives the buyer peace of mind.
There are four main areas of concern, and these are the focus of any pre-purchase tree survey we carry out for mortgage approval process:
Large trees pose a risk of subsidence due to the fact that they draw water from the subsoil, particularly in areas with clay soil. Absorbing water can cause the ground to shrink, potentially resulting in problems with structural integrity as the foundations may shift.
Overhanging branches can cause direct damage to the building itself, usually to the roof, guttering, fascias, soffits, etc. Large roots can damage foundations as well as other nearby features, such as drains, walls and fences. Assessing the potential risks is essential to providing a more accurate property valuation.
Mortgage companies are unlikely to give the go ahead if there are tree-related risks, whether there are signs of imminent damage or that this is a real possibility in the future.
Dead, dying or diseased trees present a serious risk from falling branches or tree failure (a falling tree) at some stage. Tree roots can raise paving slabs, causing a trip hazard on nearby footpaths which may result in injury and/or litigation.
Following the risk assessment, the subsequent report will recommend any necessary action required to mitigate potential risks. This could range from drastic pruning to treatment to complete tree removal.
Many trees and tree species in Brandon are subject to TPOs (Tree Protection Orders) and work on these requires special permission. Others may be situated in conservation areas, and these are also protected by law.
A mortgage provider may want to ensure that there are no legal complications tied to the trees on the premises you intend to purchase.
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A mortgage tree report in Brandon typically costs between £150 and £500, depending on factors such as:
Larger or more complex properties in Brandon with numerous trees may incur higher costs, while simpler assessments for smaller properties are on the lower end of the range.
Essentially, an arboricultural report is required for risk mitigation and the future management of all large trees in the event of a property being sold. Not all mortgage lenders will request one, but it's common practice when there are large, mature trees on the property.
These reports provide lenders with detailed information that can significantly impact the outcome, but it's important to remember that this is a form of protection, allowing homeowners in Brandon to make informed decisions.
Ultimately, your mortgage could be delayed or even denied if the report isn't obtained or any tree-related issues detailed in the report aren't resolved.
These surveys can only be conducted by a qualified arboricultural consultant or tree surveyor. These are specialists in tree health, safety, and management. They have advanced training and experience in assessing tree-related risks and providing expert advice.
They should be affiliated with or hold qualifications from the following organisations:
All Tree Surgeon Pro tree surgeons hold relevant qualifications and are covered by professional indemnity insurance.
Any surveys conducted by unqualified persons will be void and without value, putting your mortgage approval at risk.
As it is the mortgage providers who request this report, the cost falls to the buyer seeking mortgage approval. While it may seem logical that the seller would need to ensure that any trees on or near their property don't present a risk, this is not the case under the current rules and guidelines.
However, it can be beneficial in some cases for the seller to proactively request a mortgage tree report, as this can pre-empt buyer concerns, increase confidence and speed up the selling process.
This is especially useful where there are many large, mature trees in or around the property, especially if they are a selling feature (as in the case of large ornamental trees).
This is more of a legal grey area, as it depends on what stage the sale has reached.
If it's still unsold, the seller will generally foot the bill, especially if the problem was already known or should have been disclosed. In some cases, negotiations may be entered to decide on a fair outcome, such as a reduced sale price.
A buyer may insist on going ahead despite the problems, but the mortgage lender will usually want assurances that any remedial work will be addressed to secure mortgage approval. Some will even retain a portion of the mortgage in lieu of work being completed.
The key here is open and honest communication between the buyer, seller and solicitors at all times!
As fully trained tree surgeons and arborists, the Tree Surgeon Pro team is more than equipped to handle pre-purchase tree reports in Brandon. We can also take care of any resulting tree work recommended in the report, ensuring that the trees are healthy and don't present a risk.
When you need a competent professional to guide you through the process and help you secure your mortgage, call Tree Surgeon Pro for sound, friendly advice and to book your mortgage tree report.
A Tree Report for Mortgage Service is a professional evaluation of the trees on a property to assess their impact on its value and safety. Mortgage lenders often require this report before approving loans to ensure there are no risks posed by the trees.
A Tree Report is required to ensure that any trees on the property do not pose a risk to the building structure or the surrounding environment. It helps mortgage lenders evaluate potential liabilities before they approve the loan.
A Tree Report can affect your mortgage application if it reveals that trees are causing damage to the property or pose a risk to safety. This could delay approval or result in additional conditions for the loan.
A Tree Report is typically required during the property survey phase of your mortgage application. It may be requested by the lender if the property has mature trees that could influence the stability of the structure.
Tree Reports are provided by qualified arborists or tree surveyors who are certified to assess the condition of trees and their impact on properties. These professionals offer a detailed report for mortgage purposes.
A Tree Report includes details about the species, size, and condition of trees on the property, along with any risks they may pose. It may also include recommendations for tree maintenance or removal if necessary for the safety of the property.
