Mortgage for the House with Mine shafts

KenKen

Hello everyone,


I am in the very stressful buying process as a FTB and I need honest advice from all members!
I will try to explain the process step by step:

1- Agreed on 205,000 over purple bricks (PB) for a 3 bed detached in Middleton LS10 / Leeds
2- Turned out PB inflated the price as valuation came as just 190,000
3- I have done my homework which I should have done at the beginning as a FTB
4- Negotiated the down price of 195,000 after couple stressful weeks
5- My lazy solicitor remembered to share the mining report with me after 1 month she got it
6- The report says that there are not just 1 but 3 mine shafts within 20m of the property
7- They say that they are all capped back in 1985 (30 years ago) and no current mining issue in the area
8- The house built in 1995 (20 years ago) and no mining related issues since then
9- They bought the house from new and this will be their first sale
10 - My solicitor ordered more detailed Imperative Mine report and will write to Halifax about shafts...
11- There is a possibility that Halifax withdrawn the mortgage offer or devalue the house bcuz of shafts

I know that even 1 mine shaft putting some people off or creating mortgage problem and I have 3 unfortunately even though they have capped as report says. I think this will be still an issue when I try to sell it in future. I have already spent 3 stressful months and some fees for this house. This is the main reason I am still considering this house...

What would you do if you were in my shoes ?

A- Negotiate down for the valuation price of 190,000 or maybe more!
B- Wait for the Bank reply.
C- Walk away!

Thanks in advance!

emlet

Hi,

I think your question was answered here?

https://forums.moneysavingexpert.com/discussion/5680755