How long do searches take on a new build?

hlou

Hi, we are first time buyers, buying a new build leasehold flat in east london. Our solicitor sent off for the searches on the 4th Feb, and we are yet to hear anything - we have a deadline to exchange by 28th Feb and signed our mortgage papers on Weds. Is this an achievable time to be able to complete?!

thanks

SmlSave

You say you've signed the mortgage papers - do you mean that you and the solicitor have received the actual offer?


Local searches take as long as the individual council takes to process them. their website might give a rough estimate

AnnieO1234

Two things, exchange is not completion, the date is more than achievable for exchange provided you supply the funds for deposit in time.

The searches can take two to three weeks depending on the local authority, other searches are anywhere between 3 to 10 days in general (such as coal, water etc).

Xxx

hlou

we will definitely be able to supply the funds - its just a matter of getting all of the searches and paperwork signed in time! we got our official offer on Tuesday, signed all the relevant paperwork in the bank on Weds (had to go back as they were matching a previous interest rate due to a delay in our application which was out of our hands). I am now waiting to hear from Nationwide about a date for their valuation.