Coal Mining Report

Zither

Hello,

I've just been 'offered a loan as detailed in my mortgage offer' by my bank, which is good news.

Howver, the bank's basic valuation states:

'The property is located in a former coal mining area. A copy of the coal mining report should be obtained to confirm the extent of any potential risk. Our valuation assumes the result is satisfactory.'

So, I would value any opinion on:

1) What is the process for obtaining a coal mining report?

2) How much do they typically cost?

3) Should I back away from the purchase?

Thanks!

Z

natrapx

Nothing to worry about, your Solicitor will do it as part of their standard checks.

davidmcn

And no sense in backing away unless you want to avoid the area entirely (don't know where you're buying but whole counties can be deemed to be coal mining areas). The coal report discloses whether there is actually anything to worry about.

Zither

Morning chaps,

Thanks both for your responses.

I've done a little bit of reading...

Is getting a coal mine search better managed by myself via the coal board before getting the solicitor involved (e.g. potentially saving conveyancing fees) or is this better done by the solicitor?

I read a few 'horror stories' on-line last night about searches taking a long time, banks changing their decision based on the results of the survey?

Thanks!

Z

n217970

Just leave it to the solicitor - our inital report showed up some risk of old mines - I know the area and where the local mines went to (there is no risk) but the solicitor got a more detailed report confirming no risk. Only took about a week and was handled whilst other things were ongoing.

davidmcn

You're not going to save any money by ordering your own, and nobody else does this (if your solicitor charges any extra for their time getting it I expect they'd charge the same amount for looking at the one you've obtained).

Horror stories about "searches" taking a long time are probably about local authority searches, the Coal Authority turns round requests pretty much instantly.

And in the unlikely event that the search discloses something major e.g. a mine shaft under your garden, your decision is likely to be the same as your lender!

burnsguitarman

Its pretty standard procedure in former coal mining areas, nothing to worry about. Solicitors will have asked for these searches many many times before.