Coal mining report - Mortgage

Ce1979

Good morning,

Hoping someone can help. Posted in here as mortgage is relevant.

The property we are looking to purchase has flagged historical subsidence claims between 1996-2001. An accepted damage notice claim.
All settled.

Obviously alarm bells are ringing but we love the property. I know the vendor has a mortgage on the property and it has been sold in 2005 and then 2009 to the current vendor. It's near an old coal mine although everything else on report is fine.

Our surveyor did not mention anything about potential subsidence although the coal search came back after his report. I have also run some insurance quotations and a number of lenders offer reasonable buildings insurance. We had a building survey.

Our solicitor has a duty to inform our lender clearly but has anyone been through something similar and had a positive outcome?

[Deleted User]

As long as you can get standard insurance then historic subsidence isnt a dealbreaker. My own house had subsidence in the 80s and my lender didnt care one jot when the valuer went out

[Deleted User]

Many have had positive outcomes. Others will have had negative ones. But their houses will be different to yours, with different issues and also in different locations, so it's irrelevant.

You need to satisfy yourself that the subsidence work was done correctly and whether you feel it's an ongoing risk.

Ce1979

Deleted_User wrote: »

Many have had positive outcomes. Others will have had negative ones. But their houses will be different to yours, with different issues and also in different locations, so it's irrelevant.

You need to satisfy yourself that the subsidence work was done correctly and whether you feel it's an ongoing risk.

Yes, agreed. I feel if we have carried out all of our due diligence and all paperwork and work carried out can be verified, then we would like to proceed.

Assuming the lender also agrees of course.

Ce1979

Deleted_User wrote: »

As long as you can get standard insurance then historic subsidence isnt a dealbreaker. My own house had subsidence in the 80s and my lender didnt care one jot when the valuer went out

Thanks. The valuer was out quite early on in the process and all was fine. The survey was completed without any major highlights. Just the coal mining report which has tempered things a bit.