It is a huge achievement and a momentous occasion in both the development of Terrafirma and in the evolution of environmental reports
- Ground information expert’s new CON29M Coal Mining Report reduces property transaction delays -
10th July 2018 - Terrafirma, an expert provider of environmental information and data intelligence, has become the first commercial organisation to be licensed by The Law Society as a ‘Report Producer’ of the official CON29M Report, a mandatory requirement for property and land purchase in coal mining areas. The Terrafirma CON29M Report offers property and legal professionals a level of interpretation, risk transfer and client protection not previously available and contains an expert professional opinion that is backed by comprehensive terms and conditions, with all liability for the outcomes of the report passing to Terrafirma, protecting the client, lender and solicitor.
CON29M (2018) is new guidance from the Law Society, its legal form comprised of eleven questions for the investigation of past, present and future coal mining activity in England and Wales. Licensed by the Law Society, the Terrafirma CON29M Report offers expert interpreted answers to these eleven questions (14 for commercial properties) using Coal Authority licensed data and satisfying all the requirements as stipulated by the new Law Society guidance.
“By providing Terrafirma with the first commercial license for the CON29M legal form, The Law Society has recognised the quality of our data analysis, professional opinion, terms and conditions and suite of reports. It is a huge achievement and a momentous occasion in both the development of Terrafirma and in the evolution of environmental reports,” says Tom Backhouse, CEO and founder, Terrafirma. “The previous CON29M form raises questions which may result in the need for further interpretation and additional reports, at an extra cost to the client and causing transactions in coal mining areas to experience delays. The Terrafirma CON29M automatically includes this additional data and interpretation at no extra cost, resulting in a dramatic reduction in the number of delayed transactions.”
The Terrafirma CON29M utilises improved data processes, risk screening and assessment, to ensure a prospective purchaser will have a better understanding of what coal mining risks face their property. This will eliminate the requirement for a solicitor to report on a liability they may not have detailed knowledge of and reduce the amount of time a solicitor spends reporting back to the client or the lender.
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Terrafirma is a leading provider of environmental information and data intelligence, translating complex physical, financial and legal environmental risks into clear, accurate and reliable advice. Through innovative data-driven services, protected by an expert professional opinion, Terrafirma offers a comprehensive suite of solutions to ensure that the client is confidently equipped to better understand the ground.
Our innovative and collaborative approach to environmental risk and impact assessment ensures that professionals and consumers alike are forewarned to the reality and variety of risks the environment can pose to properties and land across the UK. From historical mining to the future of shale gas extraction and the impact of ground gas to the risks of natural ground movement, Terrafirma can not only provide insight to data but the expert solutions required to inform and action where necessary.
Our leading Advisory Panel provides expert guidance and counsel, with a focus on educating property market stakeholders to ground hazards.
“The Terrafirma Advisory Panel comprises professionals and academics at the cutting edge of environmental and ground hazard solutions in the UK’s built-environment, legal and insurance sectors.”
Andrew Wiseman OBE, practising solicitor
For further information visit Terrafirma
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