There is always a risk of damage to a property by trees in close proximity. Tree roots may potentially cause damage to built structures in two ways: Direct Damage - This is when the physical expansion of tree roots lifts paving stones, cracks walls etc. Due to the weight of a house no amount of physical expansion will affect it - but garden walls and small structures such as garages or outbuildings may be at risk. Indirect Damage - Large built structures including houses which are sited on clay soils can be affected by a tree's removal of moisture. Clay soil shrinks as water is extracted from it and this can lead to subsidence. If a building has been built on clay soil near an existing tree, and that tree is then removed, the soil may expand which can cause heave. The risk of such damage may be greater with older properties. Modern building standards mean that the risk to newer buildings is less. Tree-related subsidence is usually seasonal, with cracks appearing in the summer months as the tree uses the water, and then closing in the winter months as rain wets the soil. It would appear that the tree you mention has been there for some time, and if your house is new, then it would have been designed with this in mind (hopefully). If you are noticing cracks etc, then it may be a good idea to get a Structural report done by a qualified engineer.