Past Underground Mining

bel2310

Hi,
I'm in the process of buying a property and the Coal Mining Report has come back saying: The property is within the zone of likely physical influence on the surface from past underground coal workings. I am paying cash, but my concern is that this will cause problems if I ever come to sell the property and a mortgage is needed. Has anyone any advice. Everything else in the report is fine, and the isno record of any subsidence in the area.
Thanks
Bel

Careful_girl

I bought a house with this on the search. I got a mortgage and sold it after I had done it up with no problem.
All the best,
CG:j

MortgageMamma

It really depends on the severity of the problem, the likelihood of the problem becoming worse, and the individual attitiude of the buyers lender towards such things. Lots of property is built above old coal mines shafts etc and gets mortgaged no problem, but there are no guarantees with this one I'm afraid. I would speak to your solicitor for further reassurance, as he/she no doubt will have completed purchases and sales on your area before.

MM

jonesMUFCforever

I would see if I could get some sort of Insurance policy specifically covering this problem. Then negotiate the cost of it from the seller.
Whilst you may be happy to buy knowing about the mining problem should you wish to sell then a future purchaser may not be of the same mindset.