Worried lender will withdraw mortgage offer after coal report

ProDave

jmre22 said:

user1977 said:

jmre22 said:

My solicitors have also advised that a coal report is required for the lender as the environmental search identified the property in a coal mining area. Should I be worried?

No. Well, not about this. Find something else to be worried about (I would start with why you've given notice to leave your rental before you've got the new place exchanged...plenty of other things which might crop up).

Our landlord requires 2 months notice and our tenancy ends 20/01/23 we had no choice really, we could either hand our notice in and hope for completion before this date, or agree to a 6 month tenancy renewal

Or do nothing and go onto a rolling 1 month tenancy.

jmre22

ProDave said:

jmre22 said:

user1977 said:

jmre22 said:

My solicitors have also advised that a coal report is required for the lender as the environmental search identified the property in a coal mining area. Should I be worried?

No. Well, not about this. Find something else to be worried about (I would start with why you've given notice to leave your rental before you've got the new place exchanged...plenty of other things which might crop up).

Our landlord requires 2 months notice and our tenancy ends 20/01/23 we had no choice really, we could either hand our notice in and hope for completion before this date, or agree to a 6 month tenancy renewal

Or do nothing and go onto a rolling 1 month tenancy.

A 1 month rolling tenancy with a 2 month notice period… so I would essentially be signing a 3 month tenancy contract

housebuyer143

jmre22 said:

Hi,

We are nearing the end of our house purchase.

Thus far we have 

-Received a mortgage offer

-Obtained conveyancing searches (water&drainage, local authority, environmental) 

-Received a drafted contract which our solicitors are checking over

-Received all the title and deed and transfer paperwork

-solicitors have sent the sellers solicitor some enquiries which are in the process of being answered

I have been advised by my solicitor that once these enquiries have been satisfied/actioned then a completion date will be arranged.

My solicitors have also advised that a coal report is required for the lender as the environmental search identified the property in a coal mining area. Should I be worried? I have handed my 2 months notice in at the property I am renting, therefore if this coal report causes my lender to withdraw there offer then I’ll be homeless.

Here is a screenshot of nearby coal mines , the black X is the property I am buying, the red X’s are coal mines/mine entries.  

https://ibb.co/6Z0tL01

It is just standard for a coal mining area. Honestly, wouldn't you want to ensure your house isn't on an old mine shaft. You might find it is a good thing they requested it 

LHW99

As long as the floors were horizontal when you visited.... We went round one and the upstairs sloped. They had put a vertically striped wallpaper in and the pull-switch for the light didn't line up, so we checked it with a level (the slope was enough to feel as you walked across the floor too).

That one got crossed off the list pronto

Grizebeck

jmre22 said:

cymruchris said:

It's been standard practice for years that a search is carried out on any house that's in a mining area. If the mines are long closed I wouldn't worry in the slightest. If you happen to still have a working coal mine on the doorstep - there may be some additional enquiries as to any plans to mine under your home - but otherwise - nothing major to be concerned about at this stage. (If something affected your potential purchase - it would affect houses in the immediate vicinity as well). I came across my parent's house original search when preparing it for sale - this is how they looked in the early 80's. (And even with the seams listed below - my parents got their mortgage without any issue)

 

I hope there’s nothing to worry about. The seller advised me that a house on the street sold this year and the buyers obtained a mortgage to pay for it, therefore I’m hoping since they had no issues then neither should I. That’s crazy though a 700 meter deep mine:O

Deepest mine shaft in England was around 900 metres
Deepest worked around was around 1200 metres

propertyrental

I too believe the coal report is not worth worrying about as a) it's unlikely (though possible) to cause a difficulty and b) there's nothing you an do about it anyway.

Serving notice on your tenancy though, before Exchanging Contracts, IS a risk. Assuming you are in Eng/Wales:

* signing a new 6 month tenancy agreement is totally unnecessary
* what (exactly) does your tenancy agreement say (please quote) about notice following the end of the fixed term
* 2 months notice (by tenant) is possible, but unusual
* In a Statutory Periodic Tenancy (which automatically follows a fixed term unless the contract specifies otherwise) it is one full tenancy period - ie 1 month ending at the end of a tenancy period
* and of course, with some good communication and mutual understanding there's no reason a LL and T cannot agree a different notice period. 

Post 4: Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?