Coal Mining Report

bel2310

I would be very grateful for some advice on the following from all you wise folks out there.
I am in the process of paying cash for a mid terraced property as a buy to let. It is in a growing residential development area which was previously used for coal mining. The Coal Mining Report states : "the property is within the zone of likely physical influence on the surface from past underground coal workings". Should I be worried about this, either for the effect on the house itself or on its resale value. It is in what seems to be a sought after estate built in 1995, and properties seem to be selling well at present.
Any thoughts?
Thanks
Bel

T

BobProperty

My thoughts are twofold: Local knowledge - There must be local estate agents and surveyors who know if and where the problems are.
Buildings Insurance - If you have the time and can used a screen-scraper insurance tool, search for insurance see what answers / rates you get quoted for the house. If you get lots of "contact us" or "refer" and "not quoting" and the like, you will know it is a problem in the area. If you get some highish quotes, you know it's less of a problem, but a possibility that can be covered. If you get normal quotes then someone's just being over-cautious and covering themselves.

sneekymum

Ask the Geotechnical Engineers at your Local Council - these people advise the Building Control Officers and often the Planners (for structures which are exempt from the Building Regulations) - that'll be able to tell you the sort of problems you might encounter.

bel2310

Thanks for that help. Have tried the insurance search and no one has declined so that is a good start. I will contact the council on Monday. Regarding the resale value, would this report cause problems for anyone trying to get a mortgage on the house?

Thanks again
Bel

Prudent

I live in an area which had a huge amount of mine workings in the past. two out of the three properties were built above former mines. On property two (also a mid terrace) some surveys made that comment on houses sold on the estate. The house was the best built of those I have lived in and gave me no problems. Insurance premiums were fine and it didn't affect resale.

bel2310

Thats good to know. I have looked at rightmove sold prices for the road and properties seem to always sell well so I think I am going to carry on.
Thanks for the advice.