Coal Mining Report advice

bm1296

Hello,
My solicitor arranged for a coal mining report as part of the searches and the report was received yesterday.
The report says there is a mine shaft within 14m of the property. The property I am buying is a mid terrace and the shaft is shown to be under the properties 2-3 houses down. The property lies out of the calculated zone of influence however there is a potential risk still present. 
The report recommends a visual inspection of the property to check for subsidence. I have had a homebuyers survey completed and it did not state any issues with cracks on the walls etc. however, I understand a building survey would probably identify these potential issues better. The house was built in 1965 and would be covered by the Coal Authority. 

I have received the mortgage deed to sign so as far as I'm aware the lender is fine with the search (waiting for confirmation). The main issue for me would be finding out whether the house could be insured which after reading other threads can't imagine would be an issue. 

Unfortunately as a FTB I have no experience whatsoever (and neither do family or friends) so would like anyone to give any advice on buying a property similar to this? Should I be concerned? 

Thank you!

davidmcn

bm1296 said:

I have received the mortgage deed to sign so as far as I'm aware the lender is fine with the search

No, that only means your solicitor has prepared the mortgage deed, not that they've reported back on any of the searches or other due diligence to the lender where that's needed. So talk to your solicitor - haven't they given you any advice so far? They look at coal reports every day.

As for buildings insurance, haven't you looked for quotes already? If there's a past history of subsidence problems in the area, they'll have factored that into the prices.

caprikid1

Where are you buying ? I have a house in Bristol that is like a rabbit warren under and around it (BS15 1H)

bm1296

caprikid1 said:

Where are you buying ? I have a house in Bristol that is like a rabbit warren under and around it (BS15 1H)

Middleton, South Leeds

bm1296

davidmcn said:

bm1296 said:

I have received the mortgage deed to sign so as far as I'm aware the lender is fine with the search

No, that only means your solicitor has prepared the mortgage deed, not that they've reported back on any of the searches or other due diligence to the lender where that's needed. So talk to your solicitor - haven't they given you any advice so far? They look at coal reports every day.

As for buildings insurance, haven't you looked for quotes already? If there's a past history of subsidence problems in the area, they'll have factored that into the prices.

appreciate the clarification thank you. Will speak to solicitor asap and ask their advice also.
Yes I've received insurance quotes and they seem reasonable.