Due to a collaboration between The Coal Authority, the British Geological Survey and the Cheshire Brine Board, a Ground Stability Report service is now available.
The report gives homeowners information on the stability of the ground on which their property is located. The report is authorised by the group, and fully compliant for inclusion in Home Information Packs, which is due to be compulsory in England and Wales from 1 June 2007 to help improve the whole buying and selling process.
According to the collaboration, over 8.5 million homes in Britain are at risk of non-mining related subsidence damage. The new service promises to save a large proportion of the £340m that is claimed each year on property policies.
Joe Dearden, head of customer and commercial services at The Coal Authority, told PIN:
“This new service promises to be an invaluable set of information for British home-owners. Not only can it offer peace of mind regarding the stability of the ground beneath their prospective or current home, but it can give straight-forward advice that could possibly help homeowners avoid costly repair work.
“Subsidence is a huge issue for British homeowners, and costs the insurance industry more each year than flood damage. Much of the cost of subsidence damage can be avoided if relevant information is heeded and remedial or preventative action taken. The new service will be a must for anyone looking to purchase a property and will be of equal interest to insurers, surveyors and lawyers”, concluded Dearden.