Coal Mine Shafts within 20m of Property - HSBC Mortgage

codingtutor · 4 August 2021 at 12:21AM

Hi all

Just as I thought things were going well for my FTB mortgage, I've received a worrying email from my conveyancer in relation to the coal mining report. Some of the facts:

2 coal mine shafts within 20m of property
in a surface area that could be affected by underground mining in 1 seam at 100m to 110 depth, last mined in 1820.
not within the present mining area
no plans for future mining

I'm anxious about what the lender will say (it's HSBC). They've already downvalued the property after their valuation.

Solicitor has advised for a more detailed Mine Entry Interpretive Report and for this to be referred to the lender for their approval.

Has anyone had similar experiences recently or understands what the above facts mean?

Thanks

user1977 · 4 August 2021 at 12:31AM

The shafts are the only significant point out of those.

weeg · 4 August 2021 at 9:19AM

Sometimes it's not an issue - mine entries capped, nit history of collapse. Sometimes it can be. No point in speculating until you get the mining report.