Natwest - New Build within 20m of capped mine shaft

Mummy_K

Hi everyone,

Just after some advice from anyone who has been in similar situation or is able to give information on my situation.

We are in process of buying a new build house which is on site of an old colliery, our house faces the park area where the shafts are, there are 5 shafts and my house is around 18m from 1 of them. They have all been filled and capped to coal authority and NHBC standards so I'm not concerned.
We were due to exchange contracts this week but solicitor had to seek approval from Natwest our mortgage provider that they were still happy to proceed based on the vicinity of the shaft, Natwest came back to say they wanted the further 'mine shaft interpretive report' this was done and showed that our property is outside of the zone of influence but our front garden could not be discounted completely but it was very low risk due to the capping of the shafts. This has now gone back to Natwest for them to refer to surveyor and I'm eagerly awaiting a decision. Solicitor is not concerned at all and thinks it's Natwest being cautious but of course I'm stressing. Surveyor who valued property initially would also have been aware of the shafts as its a famous site and it hasn't been hidden at all the fact the shafts are there.

Can anyone give me any information on the situation?

Thanks in advance

libf

https://forums.moneysavingexpert.com/discussion/5329324

kingstreet

Have you obtained insurance terms on the property?

The lender may well be prepared to lend only if you can obtain insurance at standard terms, so be prepared for more running around if you don't make a start on this now.

I would send a copy of the valuation and the mining report and get an opinion from one of our usual insurers. Your broker should be able to do the same.

Mummy_K

Thanks for both replies.
I had done a vague search for insurance and none of the leading insurers seemed to ask anything about mine shafts and it didn't state in small print however I have just phoned a broker who is calling me back so I can be prepared in the event of being asked. Solicitor doesn't think it's necessary but I would rather be ready. There are around 10 other houses in the vicinity of this particular shaft and all have been given mortgages without the 'mine shaft interpretive' report from Santander, nationwide, Halifax and HSBC but both myself and a neighbour who are using Natwest both seem to have been looked into more. I'm assuming it's just Natwest policy.

Jon_B_2

I think you should be thankful that Natwest are being so cautious - if you come out the other side and they can lend it looks like sufficient due diligence has been made to ensure both yourself and the lender are protected from the risk.

davidmcn

Sounds like a standard requirement. I would expect the developers to have obtained a geotechnical report with even more detail than the Coal Authority's reports - have you seen that? Probably accessible among the planning papers.

Mummy_K

Just a quick update on situation incase anyone in future has similar worry.

I have now exchanged contracts and the shaft did not affect value or mortgage at all, seems I worried over nothing.