Mining activity has been carried out across the British Isles for centuries reaching a peak in the nineteenth century. The majority of mining activity has long since ceased.
The Council of Mortgage Lenders and the Law Society advise that mining searches should be considered in areas where historical mining activity has taken place. Mining search reports are designed for land and property purchase, sale and development.
The Mining reports are carried out with reference to mining archives held by companies such as Mining Searches UK in order to provide an assessment of mining risk to the subject property. The report usually includes a plan extract showing the property boundary and any mining features which may be considered as a risk to the property. Clear recommendations should be provided where it is considered that further action is required, such as visual inspection of the property and or physical site investigation.
Autumn Statement: Buy-to-let homes face higher stamp duty – BBC news
Buy-to-let landlords and people buying second homes will soon have to pay more in stamp duty, the chancellor has announced.
From April 2016, those in England and Wales will have to pay a 3% surcharge on each stamp duty band.
George Osborne said the new surcharge would raise £1bn extra for the Treasury by 2021.
Landlords reacted angrily to the change, saying it would “choke off” investment in rented properties.
Other changes announced by the chancellor included an extended Help to Buy scheme in London, and more money for the Starter Homes programme.
‘Choke off investment’
The stamp duty surcharge will lift each band by 3%. That means that for properties worth between £125,000 and £250,000, where the stamp duty is 2%, buy-to-let landlords will pay 5%.
For the average buy-to-let purchase of £184,000, that means they will pay an extra £5,520 from April 2016.
Commercial property investors, with more than 15 properties, are expected to be exempt from the new charges.