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Coal Mining Report
Wren14
Posts: 60 Forumite
I am currently near the very end of my first house purchase with a completion date of 3rd March.
All was going well until my conveyancer sent me the Coal Mining report which asked for a Mining Interpretive Report to be done because 3 coal mines had shown up within 20m of the property. Now this report was completed by the Coal Authority on 21st December but it would appear that the conveyancer only read it last week as that is when it suddenly become apparent that an extra report was needed.
So this report has been languishing somewhere for nearly 8 weeks before it was read, meaning my completion date was rapidly approaching (fairly incompetent I'm thinking for a conveyancer, but then I am a FTB so not sure this would be normal for reports to be left unread for that amount of time?)
Anyway, the Mining Interpretive Report has come back and has stated that 2 of the mines are outside the zone that would have any affect on the property should subsidence occur, which is good news. The closest mine however is within the zone that could affect my property if subsidence was to occur. The report uses the words 'very small risk'. This report has been sent to my lender who have in turn sent it on to the valuer.
My question is - Does anybody know the likelihood of still being given a mortgage on this property? The report states that if anything were to happen due to the mines then the Coal Authority would pay for any remedial works up to £50,000. I have a 95% mortgage agreed by RBS and everything was good to go until this spanner got thrown in. RBS had already valued the property and approved the mortgage.
I am now awaiting my fate....
I would appreciate anyone with a similar experience letting me know how they got on. Thanks
All was going well until my conveyancer sent me the Coal Mining report which asked for a Mining Interpretive Report to be done because 3 coal mines had shown up within 20m of the property. Now this report was completed by the Coal Authority on 21st December but it would appear that the conveyancer only read it last week as that is when it suddenly become apparent that an extra report was needed.
So this report has been languishing somewhere for nearly 8 weeks before it was read, meaning my completion date was rapidly approaching (fairly incompetent I'm thinking for a conveyancer, but then I am a FTB so not sure this would be normal for reports to be left unread for that amount of time?)
Anyway, the Mining Interpretive Report has come back and has stated that 2 of the mines are outside the zone that would have any affect on the property should subsidence occur, which is good news. The closest mine however is within the zone that could affect my property if subsidence was to occur. The report uses the words 'very small risk'. This report has been sent to my lender who have in turn sent it on to the valuer.
My question is - Does anybody know the likelihood of still being given a mortgage on this property? The report states that if anything were to happen due to the mines then the Coal Authority would pay for any remedial works up to £50,000. I have a 95% mortgage agreed by RBS and everything was good to go until this spanner got thrown in. RBS had already valued the property and approved the mortgage.
I am now awaiting my fate....
I would appreciate anyone with a similar experience letting me know how they got on. Thanks
0
Comments
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Phone RBS and ask?0
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You'll just have to ask them and see what they say. It's not uncommon for reports to come back with similar, I live in a Welsh mining town specifically in a village that had a pit so all of our mining reports will show similar to yours and most lenders will know things like this about an area before offering you a mortgage.0
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Got a call from the conveyancor this morning...RBS are happy to go ahead. So relieved!!0
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