We’re delighted to let you know that we’ve just introduced two new subsidence reports to offer you improved subsidence information when dealing with a residential property transaction. The reports are:
1) Subsidence Risk Rating (Postcode)
2) Homecheck Professional Ground Stability Report
Please read on to find out more about subsidence and how to use these products.
More about subsidence
The British Geological Survey estimates that at least 1 in 5 UK properties has a subsidence risk. Key contributors to subsidence include the nature of the geology and the type of rock involved. Natural caverns in rock, old mineshafts and erodible rock can make some areas more vulnerable than others, especially following a sudden influx of water. Gypsum, for example, is particularly susceptible to being eroded in this way.
Detecting subsidence risk
Our online Search Alert tool alerts you to the risk of subsidence on a residential property. Where the possibility of risk is identified, the Subsidence Risk Rating (Postcode) should be used to determine the level of risk (low, medium, high or very high).
Subsidence Risk Rating
The Subsidence Risk Rating (Postcode) is a risk assessment based on insurance claims data at specific postcode level. It is a useful first step in advising homebuyers and comes with guidance on what further investigation should be undertaken (including access to a technical helpline).
Ground Stability reports
The Ground Stability report provides you with a wider picture with which to advise your clients. It includes details on the presence of mining, mineral extraction, man-made hazards (eg infilled land, boreholes) and natural risks (eg shrinking clay, running sand).
For further details on subsidence and all Geodesys products, please contact our Customer Services team on 0800 085 8050.