Mine shafts within 20m

KenKen

Process: 3 stressful months.
Cost: £1,500.
Result: Mortgage offer is withdrawn by Halifax due to poor sale-ability.

My advice to FTBs:
1- Do your homework before making an offer
2- Google for Mining or Flood risk in the area
3- Ask for mining report in advance from sellers if there is a risk
4- Check for leasehold terms for sure
5- Ask for copy of searches from your solicitor as soon as they are completed
6- Do yourself a favour and Stay away from Purple Bricks (they advertised the same house with inflated price again like nothing happened)
7- Stay away from vendors using online solicitors
8- Stay away houses with more than 1 mine shafts within 20m

I wish no one has to suffer like me!

LEJC

KenKen wrote: »

Process: 3 stressful months.
Cost: £1,500.
Result: Mortgage offer is withdrawn by Halifax due to poor sale-ability.

My advice to FTBs:
1- Do your homework before making an offer
2- Google for Mining or Flood risk in the area
3- Ask for mining report in advance from sellers if there is a risk
4- Check for leasehold terms for sure
5- Ask for copy of searches from your solicitor as soon as they are completed
6- Do yourself a favour and Stay away from Purple Bricks (they advertised the same house with inflated price again like nothing happened)
7- Stay away from vendors using online solicitors
8- Stay away houses with more than 1 mine shafts within 20m

I wish no one has to suffer like me!

I agree with the majority of your advice Ken....however a purchaser and seller are not able to transfer an existing mine report.
The report contains an indemnity clause which is what the purchaser needs to pay for and the report is prepared in their name.The indemnity then is valid for the time the purchaser owns the property and is not transferable

In advising purchasers to request the sellers report you may be seen as confirming that the report can be passed in full to the purchasers....

The report needs to be obtained by the purchasers (via their solicitor) from the coal mining authority so that it includes the full indemnity....

Without the indemnity the purchaser is not covered should they need to make a claim.

It is also worth noting that many mortgage companies do offer a mortgage on properties within a mining area it is just a case of raising the possibility with them in the early stages to find those who offer suitable mortgage terms.

KenKen

My suggestion is about being fare and open at the very beginning to save eveybody from such suffers.

The seller can order the report just for £30 in advance to show the buyers and most importantly to the valuer. If everybody is happy about the report than the buyer will be happy to order own report.

If you leave to solicitor, you have already £1500 sunk cost which is far more greater than the loss of £30.

LEJC

So how is your new property search going Ken?

KenKen

Still looking, it is really hard to find a nice house without any problems in this country unfortunately. Considering a new one but most of them have this leasehold scam. Looks like it's not possible to find open and honest practice in the property industry. Such a stupid and inefficient system which doesn't suits the UK. Looks like all industry designed to ripp off honest people and all is legal...

LEJC

oh well...just keep up with the positive attitude and hopefully you'll find something.

BlessedNotStressed

I totally echo your sentiments about the property industry in this country, Ken!

spirit

KenKen wrote: »

Still looking, it is really hard to find a nice house without any problems in this country unfortunately. Considering a new one but most of them have this leasehold scam. Looks like it's not possible to find open and honest practice in the property industry. Such a stupid and inefficient system which doesn't suits the UK. Looks like all industry designed to ripp off honest people and all is legal...

Manning Stainton sold mine (Rothwell office). I thought they were really good. They kept on top of everything from start to finish, chasing the chain down etc.


If you are looking for perfection with agents/solicitors, you are going to be very disappointed.

Billyk

New to this thread but having the same experience.

Offer pulled by Yorkshire bank for a house in Wolverhampton due to having 3 mines around it's boundary. Coal interpretative reports state the house is unlikely to be affected but the outbuildings could be. This relates to a garage.

Informed vendors who now think I am making this all up.
Tried another lender The Tipton as they are a local company and happy to lend.....HOWEVER this is with a 20% reduction in the value of the house.

I was looking for a forever home and not wanting to sell again. I know the property next door with the mine in its garden has had the coal authority do 3 inspections and they all say there is no ground movement.

Unfortunately it is the mortgage lenders who are not lending and not the buyers not wanting to buy.
Vendors not willing to reduce cost so yes I've spent also around £1500 and made to feel like a fraud when in actual fact I wanted to buy.

Lukman

late to this party, but damn, Ken, you're a first time buyer, I can appreciate the frustration, but you need to consider how you present yourself... some of your posts come across as you not appreciating advice those that are more experienced than you are offering.

Yes, the whole house buying / selling process in this country is pretty crap. it's a "it's up to the buyer's solicitor to find things out and tell them" process. Estate agents actively advise their clients not to mention things voluntarily... "instead, stick with "that is what your survey is for" they will advise"... this is why estate agents are hated in the UK.

Unfortunately, the seller was under no obligation to tell you things that might put you off... they're trying to sell, and they want to get as much money as they can... should they have told you if a kitchen tap drips? what if there's a puddle in the back garden every time it rains... should they tell you about local crime rates??? when does their obligation to you end? this is why you have a solicitor... it's your solicitors job to find these things out and point them out to you as soon as they can... your frustrations should be with your solicitor for delaying this information (you mentioned that they didn't tell you until a month afterwards) and perhaps you could have asked them to lower their fees for providing a sub-standard job.

i am presently selling my house, the surveyor will recommend some things to the buyer - will i lower my price as a result? no. the buyer made an offer, i accepted after they had a chance to come and check things out... if they wish to lower their offer, i am happy to advertise my house again.

if i start telling everyone that my bathroom tap drips, chances are i'll never sell my house at a sensible price because everyone that is not mentioning such things is getting all the buyers and everyone will expect me to sell at a lower price...so as much as i agree with you that in the ideal world you'd know everything before making an offer, reality is, no one does... not in this country, and as a result house buying is a bit of a gamble and you do rely on your solicitor and surveyor.

but, all said and done, please show a little more appreciation towards other members when they offer advice... you're a first time buyer... wait until one day you try to sell your house and see how much crap people have to go through on the other side.