Terrafirma CON29M - Residential

Supplied by: Terrafirma

Overview

The Terrafirma CON29M Report provides expert interpreted answers to all 11 questions using Coal Authority licensed data and meets all the requirements as stipulated by the new Law Society CON29M (2018) guidance. It translates the risk of coal mining activity into a clear, ‘at a glance’ expert opinion, concluding the following previously unanswered questions:

• Are there any adverse mining features that should be brought to the lenders attention?
• Will coal mining activity impact the value of the property?
• Are there mining hazards that should be brought to the purchasers attention?

Terrafirma CON29M will automatically include a mine entry interpretive report (MEIR) if a mine entry is identified within 20m. This significantly increases the pass rate, and speeds up the transaction process for affected properties. The expert opinion eliminates the requirement for a solicitor to report on a liability they may not have detailed knowledge of and reduce the amount of time the solicitor spends reporting back to the client, with Terrafirma the main point of contact for any further queries.

Benefits include

• 95% of CON29M reports delivered within 24 hours
• Satisfies all new Law Society CON29M (2018) guidance plus provides clear, concise and expert interpretation and improved risk screening
• Liability for CON29M risk interpretation passed to Terrafirma’s Professional Indemnity cover of £10M per report, protecting client and solicitor
• A professional opinion written by industry experts for you to send on to your client, with clear report outcomes and an ‘at a glance’ risk rating for rapid assessment
• Requirement for additional reports reduced as the new Terrafirma CON29M Report also includes nearby subsidence claims and a mine entry interpretive report, previously only available from The Coal Authority at an additional cost. This significantly lowers the risk screening timeframe, report burden and cost
• An expert team of geologists at Terrafirma can be contacted to discuss report findings with either the solicitor or the purchaser
• Loss of Value Insurance covering any change in Coal Authority data (Up to £100,000 for the lifetime of the property ownership)

Terrafirma provides all follow-on services, including additional desktop and on-site investigation.

View our product card and sample report for full details.