Leading risk and compliance consultancy Legal Eye, has been assisting firms across England and Wales…
It is easy to assume that, if your client’s property is in an urban area, your due diligence on the transaction would not need to involve purchasing a mining report – but Groundsure’s vast collection of historical mining data tells a very different story. Coal mining and all other types of mining (such as tin, chalk, limestone and all other minerals) was historically prevalent in many urban areas across the UK – and as such it is vital that the risks associated with this historic mining are fully assessed as part of your due diligence checks on your clients’ transactions.
The news is full of stories about mining related sinkholes and ground stability issues even in the most built up areas of towns and cities. But you can rest assured that the new look Avista report will ensure that you are fully compliant with all the Law Society guidance on both environmental and mining risk because the report will now include a full all-encompassing mining search. This all in one report will give both you and your client the absolute peace of mind that you have looked into everything that may affect not only the transaction itself, but vitally your client’s happiness in their new home.
Groundsure data shows that, for example, in London and Birmingham there are swathes of properties that could be affected by historical mining. Particularly 18.05% of the greater London area is in a non coal but other mining area. The new Avista will assess all of these risks as standard providing the most in depth analysis available. But what makes Avista even more useful is it provides you with clear next steps and recommendations and what to do next about any associated risks – all described in a homebuyer friendly way, and all presented with a clear layout and navigation.
More about why Avista works harder for your transactions
The report uses Groundsure’s National Brownfield Risk Model (NBRM), (find out more at www.groundsure.com/nbrm) and the Groundsure National Mining And Stability Risk Model (find out more at www.groundsure.com/nmsrm). Combining this with the Groundsure IQ – a unique tool combining in-depth data, algorithms, AI, and expert analysis – means that over 110 million data points are analysed in order to produce every single Avista report:
- Every piece of data is intelligently filtered and assessed
- Only relevant results are returned
- Clear identification of risks with simple next steps
- Efficient case management
To find out more, join our webinar on the 10th November at 11:00
‘All types of mining and ground stability – why investigate them?’
The Conveyancing Handbook has an entire section that discusses mineral extraction and ground stability hazards which we’ll look to address in this session. Mining activity, both coal and non-coal, along with natural ground stability have been growing in public awareness as well as concern in the conveyancing process.
We are going to look at the potential risks and hazards that both natural and man-made activities pose to properties, what causes them, as well as why it’s important to investigate them as part of a conveyancing transaction. We’ll explore case studies, next steps and guidance, and which report covers any if not all of this type of information.