Terrafirma Updated CON29M 

On Tuesday 2 April 2019 we'll be introducing Terrafirma's advanced CON29M report to our ordering platform.  

The updates to the report include: 

  • The inclusion of their popular UserKey, currently used in their Ground Report. The UserKey clearly highlights who within the transaction needs to take action, so the conveyancer no longer has to use their own judgement in deciding what gets reported to whom.
  • Addition of a new 'At a Glance' expert opinion. 
  • Their loss of value insurance has increased to £100,000 and covering any subsequent changes in Coal Authority data.
  • Their ground-breaking update is the upfront inclusion of the mine entry interpretive report. The experts at Terrafirma have used new data technologies to apply a new risk model to each of the 173,000 recorded coal mine entries, analysing the zone of influence and the potential impact of a shaft on the use and value of a Site, at no extra cost. This enhancement brings a number of benefits for the conveyancer, purchaser and lender alike:

1. Speeds up the transaction and increases efficiencies: the conveyancer no longer has to liaise with their client to request additional funds, no need to exchange correspondence with the other side, and no reason to report to the lender except for less than 1% of cases where there is a serious problem.

2. The overall pass rate is increased to over 99%.  

3. Saves the purchaser £148 when a mine entry is found within 20m.

They have also made significant improvements to the Mine Entry Interpretive Report section, specifically answering the following questions to ensure a smooth and simple user journey: 

1. Does the mine entry pose a significant risk of ground instability? 

2. Does the mine entry ZOI extend beneath the building footprint?

3. Does the mine entry ZOI extend beneath the property boundary? 

Their Mine Entry Interpretive Report will also be supported by a £100,000 loss of value policy, unlike any other Mine Entry Interpretive Report on the market. 

Further information on Terrafirma's CON29M and their product card .  

Date
2019-04-02 

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