I own a flat in the UK, in which I live. I own it. It's part of a block of 50 flats.
I have learned recently that there was a subsidence problem. A large tree has been drinking the water from under the building, which has started to move. Some walls show some cracks.
The freeholding company is talking with the insurance, trying to get underpinning work done.
My question is this: how serious can that be? Should I be looking to move flats because of this? Of course, I am not expecting someone to be able to answer definitively without seeing the building, but I am after a general case answer. What's the likely outcome, and what's the worse outcome?
In particular, can I be fairly certain that in the vast majority of cases, some underpinning will fix the problem? Or is it sometimes the case that a building is beyond hope, and therefore my flat could lose all its value?