Mortgage Broker in Coalville
Mortgage Broker in Coalville
Mining searches, and what they mean
Coalville and the villages around it — Whitwick, Hugglescote, Ellistown, Ibstock, Bagworth, Donisthorpe — sit within the former Leicestershire coalfield. Where a property is in a defined mining area, your solicitor will order a Coal Authority search in addition to the usual local searches.
Most searches come back clear or with nothing that affects the purchase. Where they do raise something, it typically falls into one of three categories:
Historic shallow workings. Old workings near the surface can, in rare cases, cause ground movement. A search flagging these may prompt a lender to ask for further investigation.
Mine entries. A recorded shaft or adit within or near the property boundary. Lenders take these seriously and may require a specialist report.
Subsidence claims. A past claim on the property, and whether it was resolved and how.
None of this is a reason to avoid buying in Coalville. Thousands of properties here mortgage without difficulty every year. But it is a reason to instruct a solicitor promptly so the search is ordered early, and a reason not to be surprised if a lender asks a follow-up question.
If a search does raise something, tell us straight away — some lenders are considerably more relaxed than others about historic mining, and moving to a more comfortable lender is usually easier than arguing with a cautious one.
Where the value is
Coalville remains one of the more affordable places to buy in Leicestershire, which makes it a genuine option for first time buyers priced out of the city and the southern villages.
Terraced and semi-detached former mining housing
through the older parts of the town and the surrounding villages. Solid, well-built, and generally straightforward to mortgage.
Post-war and later estates
across the town, forming most of the family market.
Substantial new development
on the edges of Coalville and around Whitwick and Hugglescote. New build lending has its own rules, particularly around how long an offer must remain valid — see buying a new build in Leicester.
Village and rural property
further out towards Ashby and the National Forest, where private drainage and access questions become more common.
Commuting
Coalville sits between the M1 and the A42, with East Midlands Airport and the logistics employment around it close by. A lot of local buyers commute — to Leicester, Loughborough, Burton or the airport corridor.
Shift work is common in that employment, and how a lender treats shift allowances, unsociable-hours payments and regular overtime varies considerably. Some count all of it, some half, some none. On a package where enhancements make up a meaningful share of pay, that difference matters.
Bring three months of payslips and we will tell you which lenders count what.
What we do
Whole-of-market advice from Enderby, twelve miles away, with access to over ninety lenders.
Speak to us
Call 0116 277 7536 or book a free consultation.
Cedar House, 3 Broad Street, Enderby, Leicester, LE19 4AA.
Nearby
No cost, no obligation
Talk to a Leicester adviser this week
One conversation is usually enough to tell you where you stand. Send the form and an adviser calls you back, normally the same working day.
Book your free consultation
No cost, no obligation. Tell us where you are up to and an adviser will call you back, usually the same working day.