Subsidence

Subsidence is the drying out of the ground on which your home stands with the result that the structure of your home becomes unsound - cracks can develop. In other words, the homeowners nightmare.

Although this can be a problem anywhere in the U.K., houses across London and the Southeast, built on the clay belt which runs across Southern England, may be particularly badly hit as soil dries out and shrinks. It is because of this that rebuilding costs calculated by insurers are higher in these areas than the rest of the country.

Long dry spells, followed by dry winters have sent the cost to the insurance industry soaring. But before you panic about that crack that's appeared in your wall, remember many small cracks happen naturally as houses age. They most likely do not require expensive repairs and should not spell disaster.

Get professional help from a qualified independent mortgage advisor and see how much you could save on your mortgage payments. There's no obligation, just plain good advice.

See also: Financial Services, Mortgages