mining report

nat38

We're buying a house in the North East. Everything was going smoothly but we just got the result of the coal mining search - the property is within 20mts of a mine entry. It also states 'No records of what steps have been taken to treat the mine entry'

what would you do?
thanks!

Gingernutty

Drop it like a hot brick.

That's what the mortgage lenders are going to do. Such a report is the death knell for anyone trying to sell a property in close proximity to a mine shaft.

It'll be cash buyers only from now on.

Werdnal

Whats the worst that can happen:

http://www.cornwallconsultants.co.uk/shaft-collapse-gunnislake.html


Seriously though, could you do some further research yourself into the mine, its history and who worked it? A mine entry may not actually be a shaft - it could be an adit or tunnel, and may not run towards or under your property.

However, if the survey has shown this up now, and there is no documentary proof that any remedial works were ever done to stabilise the mine entry, then future searches will show the same - hence value will always be affected and future sale may be hampered by mortgage issues. Is the property priced to compensate for the mine problem? Has your mortgage lender commented?

LisaLou1982

Speak to your agent and the neighbours of the house you are buying and see what they suggest -

Obviously if the mortgage company withdraw your mortgage offer then you are scuppered anyway, but it would be naive to think that your house is the only one with this mine shaft so close - if its a mining area then its likely this is a common theme that will come up.

more_money_for_me

It isn't true that a mortgage company will refuse to lend on the basis that there is mine activity nearby. We have just sold a house where an air vent opened up 10-15 years ago in the garden of a neighbour 5 houses away. The mining authority capped it. It was raised during our sale, as being nearby, we told what we knew and heard no more. Our sale completed 2 days ago. In mining areas you are quite often within a small distance from some sort of mining activity. If it concerns you don't buy. You can usually get more information from the mining authority.

nat38

thanks everybody
this is a mining area so i guess it might be a 'problem' with most houses
we're getting a more in depth reposrt from the mining authority.
have spoken to the lender and they say it's a case by case situation, but that if the property has been mortgaged at some point they do not think it'll be a problem.

nat38

Thought I'dupdate on this, in case someone else looks for information at some point.
We did our research and the mine had not been worked for over 100 years. The lender was not even bothered. Same for the insurer.