By Legal Futures Associate Landmark UK
In a dynamic and evolving property market, there are still demands for precision and efficiency. That’s why Landmark is proud to introduce one of the most significant advancements in our new product lineup—our redefined approach to coal risk assessments.
We’ve transformed the way coal mining-related risks are evaluated, providing conveyancers and solicitors with more accurate information and reducing unnecessary delays and search costs in the property transaction process.
How does it work?
The ‘coal revolution’ in Landmark’s Homecheck Residential, EnviroSearch Residential, and RiskView Residential products provide a unique and streamlined approach to coal risk assessments. Here’s how it works across our product range:
- Homecheck Residential and EnviroSearch Residential:
- These reports now come with a Certification that, in cases of ‘No’ or ‘Low’ coal mining related risk, a Coal report is not required. Therefore, if a property is located within a coal mining-affected area, but no relevant record of mining activity is present, the report will confirm that there is no need to order a coal report and certify the accuracy of this statement. We can do this as the certification is based upon a unique dataset available only to us.
- This Certification, is supported by £1 million indemnity insurance, providing assurance and coverage against loss through inaccuracy. This is a market-first feature, ensuring your clients are protected while reducing the need for additional searches.
- This innovation significantly reduces the occurrence of false positives, which means fewer unnecessary alerts and a reduction in the number of occasions when a follow-on Coal report is required.
- If further action is needed based on our alert, you have the option to seamlessly order a Landmark Coal Residential or Landmark Coal CON29M report for more in-depth information.
- RiskView Residential:
- You also benefit from the same alert in RiskView Residential. However, this product takes it a step further. When a Coal report is required, it’s automatically included in the report, saving you the time, money and effort of ordering it separately.
- This integration provides a smoother and more efficient process, ensuring you receive all the necessary information in one comprehensive report.
Benefits of the ‘coal revolution’
The improvements in our coal risk assessments offer a range of benefits designed to streamline the conveyancing process and provide peace of mind for both conveyancers and their clients:
- Certified as No Search Required supported by Indemnity: Alongside and integral to the Coal Screening Data Layer is Landmark’s certification as to the result’s accuracy, where ‘No’ or ‘Low’ risk is identified. In the unlikely event that a claim should be made, Landmark’s certification is backed by a £1M indemnity policy.
- Refined Alerts: Our new approach ensures that further action flags are now the most refined in the industry. This precision helps avoid unnecessary delays and focuses on the risks that truly require attention.
- Symbiosis between Alerts and Full Reports: The seamless connection between our alert system and full coal mining reports is another unique selling point. Whether you need just the alert or the full CON29M, the transition is smooth, saving time, effort and unnecessary costs.
- Efficiency and Cost Savings: By reducing false positives and automatically including necessary coal reports where applicable, our new coal risk assessment system helps make conveyancing more efficient, ultimately saving both time and money. This also empowers fix rate conveyancing.
A new era for coal risk assessments
With Landmark’s coal revolution, you can expect faster, more accurate, and more comprehensive coal risk assessments. The symbiosis between alert systems and full reports, combined with the added security of our Certified No Search Required, flag’s accuracy being supported by £1 million indemnity, sets a new industry standard for coal mining risk assessments.
This all means fewer delays, fewer unnecessary searches, and a more streamlined conveyancing process for you and your clients.
