Terrafirma becomes first commercial organisation licensed by The Law Society to produce official CON29M Report

Mine for ore extraction, vector illustration

Terrafirma becomes first commercial organisation licensed by The Law Society to produce official CON29M Report

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.

This article was submitted to be published by Terrafirma as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

Terrafirma

Terrafirma are a multi-disciplinary team providing innovative and industry-leading environmental information. We translate complex risks into useful and intelligent information for professionals and the general public, with a deep-rooted and collective ambition to enable everyone to better understand the ground.

What makes Terrafirma different?

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 radon exposure 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.

Terrafirma has grown into one of the UK's most trusted providers of mining, ground and environmental information. Now undertaking several hundred property risk assessments a day, Terrafirma has been at the forefront of positively disrupting, advancing and enabling the innovation of environmental and mining reports in the property and land sector. Our deep-rooted ambition to enable change and innovation has allowed Terrafirma to forge strong relationships and collaborate with the best of the best across the UK's business, data and legal sectors, working together to advance professionals and the public's understanding of our environment.


Website: https://www.terrafirmaidc.co.uk/

Telephone: 0330 900 7500

Email:  [email protected]

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