Asbestos is a collective term for several naturally occurring fibrous minerals that were widely used in construction in the 20th century because of their strength, resistance to heat and fire, chemical stability and insulating properties.
In the UK, asbestos-containing materials were commonly installed in homes built or refurbished before 1999 and can be found in textured coatings, floor tiles, cement products, insulation boards, pipe and boiler lagging, and some adhesives.
What are the risks of asbestos?
Asbestos typically presents less risk while it remains sealed, intact and undisturbed. Hazard arises when asbestos-containing materials are damaged or disturbed by activities such as cutting, drilling, sanding or breaking, which releases microscopic fibres into the air.
If inhaled, these fibres can lodge in the lungs and, over many years, may lead to serious diseases including mesothelioma, lung cancer and asbestosis. The level of risk depends on factors such as the asbestos type, the material’s condition, the quantity of fibre released, and the duration and frequency of exposure. Consequently, asbestos in good condition is often managed and monitored rather than removed immediately.
What impact can asbestos have?
The presence of asbestos in a property does not automatically reduce its market value, but it can affect buyer confidence and lenders’ willingness to proceed, particularly where surveys identify deteriorating or high risk materials or where substantial remediation costs are expected.
In practice, asbestos concerns can lead to lower offers, extended negotiations or delays in completing a sale. Some buyers are deterred by potential health risks, future maintenance obligations and the cost of using specialist contractors and disposing of hazardous waste. Conversely, a professional asbestos survey confirming that materials are in good condition and can be safely managed often reassures buyers and limits any negative impact on value.
What should homeowners do if they find asbestos?
Homeowners are not generally legally required to remove asbestos or to commission an asbestos survey. However, any renovation or repair work must be carried out safely, and contractors undertaking intrusive works usually have duties to assess asbestos risks before starting. Refurbishment and demolition surveys are typically required where significant alterations are planned. Improper handling or removal can result in enforcement action, health risks and substantial clean-up costs.
Additional obligations may arise where a property is let or used partly for business, as health and safety law may require asbestos risks to be assessed and managed for tenants, visitors or workers. Sellers should also be aware that failing to disclose known asbestos issues, or providing inaccurate information during a transaction, may expose them to claims from buyers who suffer financial loss.
Should you buy a property with asbestos?
When buying an older property, particularly one built or refurbished before 2000, it is often advisable to commission an asbestos management survey. This survey identifies the presence, location and condition of asbestos-containing materials and sets out appropriate management options, which may include leaving materials in place, encapsulating, repairing or removing them.
Buyers should review this information with the surveyor and consider whether any relevant removal works are required. If significant asbestos issues are present, the parties may negotiate a price reduction, agree an allowance from the sale proceeds to fund future works, or require specified remediation to be completed before completion. Addressing these matters before exchange of contracts helps ensure that liabilities, costs and responsibilities are clear to all parties.
Lisa’s Law highly experienced residential property team can advise you on issues relating to asbestos in residential property transactions. Contact us today.
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