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Client Care Letter: GeoRisk

Introduction

There are many risks that can affect your property which should be investigated fully ahead of exchange of contracts. 

It is the policy of our firm to ensure that we provide detailed due diligence to protect the interests of both you and your lender on your proposed property purchase. GeoRisk ensures we comply with Law Society guidance on mining and ground stability.

As part of our range of searches we will order a Groundsure GeoRisk to identify whether there are any specific risks related to historic non-coal mining and any ground stability issues which may affect the property. A GeoRisk report will highlight any natural and man-made subsidence risks to property. It will identify whether there are any specific risks relating to non-coal mining, historical and other geological features.  In addition, it will identify any oil and gas extraction, natural instability, infilled land, and sinkholes in close proximity to the property. The report provides detailed information and a professional opinion by Groundsure’s mining experts. 

Non-Coal Mining

Large areas of the UK have a heritage of non-coal mining. Over 60 different minerals have been mined, extracted and quarried in the UK, falling into five broad categories: stone, metalliferous, hydrocarbons, evaporites and coal. There are a number of potential issues associated with non-coal mining which can potentially affect the value of the property and could lead to ground stability issues. The report takes into consideration historical features, geological features indicative of mining and oil and gas extraction sites. 

Ground Stability

Ground instability can seriously impact the structural integrity of a property, in addition to the value and insurability. The report will highlight any natural and mad-made subsidence risks to property, by utilising a vast range of datasets to aid in the identification of natural ground subsidence, real world ground movement, sinkholes, infilled land and coastal erosion. 

Next steps

Where a potential risk is identified or next steps are provided we recommend including those in your report on title.