Searches form a standard part of the conveyancing process and identify any potential problems with the property you intend to buy. They can also be required should you be refinancing your current property, but this varies from one mortgage lender to another. Searches are not surveys so they do not cover information relating to the structure or condition of the property but can protect you against the risk of any serious issues with the property.
The number of searches required depends on various factors that may affect the property and is decided on a case-by-case basis. The following searches are usually required if you are buying with the assisting of a mortgage:
Local authority search
This is split into two parts, the first being the Local Land Charge Register search which covers any charges or attendant restrictions relating to land or property. Planning agreements and conditional planning permissions are also covered. The second part, CON29, supplies information relating to public highways, proposals for new roads or rail schemes as well as planning decisions that may affect the property or nearby area.The search could also revealstatutory notices, breaches of planning or building regulations or the existence of a compulsory purchase order.
Water and drainage search
This focuses on the water supply and sewerage system and how the property is charged for the water supply. The information is provided by the various local water companies in England and Wales.
Environmental search
This considers past use of the land and will cover contamination, flood risk, ground stability (i.e. subsidence risk), historical coal mining, radon gas, energy and infrastructure as well as development constraint.
Coal mining search
In certain areas of the country a mining search is required and searches for past, present and future underground and opencast coal mining, mine entries, coal mining geology, coal mining subsidence claims, mine gas and surface hazards.
This is just a snap shot of the many searches and investigations which can be carried out on your new property, as appropriate.
Search results can take anywhere between a couple of days to a number of weeks to be received, and those that are more complex can take a few months and the cost can vary. Searches are usually valid/acceptable for six months from the date they are produced and if your purchase or refinance is delayed then new ones may be required to ensure the information is accurate. Whilst searches can seem like a time-consuming part of the transaction process, they are essential to ensure you are aware of any issues before your contract becomes legally binding.
If you are looking to buy or sell property, please contact a member of our property team on 01494 521301.