Certain parts of the UK are at risk of hazards caused by mining activity or radon gas. These hazards have the potential to cause subsidence or have a negative affect on health. If your client is buying property or land in Cornwall, for example, a mortgage lender will usually require a tin mining search which will identify current, planned or historic underground workings and may indicate if any previous claims have been made for subsidence.
Buying or building a property in an area with an underlying hazard needs serious consideration. Until now, however, it has been difficult to identify which addresses in a particular area are at risk and what further enquiries and/or specialist assistance your client should be advised to obtain.
To make it easier for you to identify and assess such risks, or if you are ordering your searches online, our free hazard alert will automatically check if an address may be affected by:
Where a risk is identified, we will automatically recommend an appropriate search report to help you assess the level of risk, for example, the likely impact on the value or insurability of the property, or on any proposed development, or indeed on your client’s future enjoyment.
So any additional information you need to support the due diligence process is ordered at the outset. And your client can consider their options and make an informed decision about their intended purchase, potentially saving time and money and reducing the risk of the transaction falling through.
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Need some help? Call us on 0800 318611.