Do I need searches on buying a flat?

[Deleted User]

Hi,

I have recently bought two flats in the same block in the past year and carried out all the necessary searches via solicitor.

There is now a mortgage involved on my next purchase and I presume that my mortgage company will insist I have these searches again?

Just seems not necessary due to the searches being done so recently.

Cheers,

Chris

Guest101

The mortgage company are protecting their investment. Searches will almost definitely need to be done - 99.9999%

[Deleted User]

OK cheers.

Brown_Eyed_Girl

They will ask for a valuation and possibly a basic search, i guess it will depend. If you are using the same mortgage company it might help and you already have proof that they have lent against the building.

[Deleted User]

The valuation has been done.All is in order.

AlexMac

Good luck- I jib at searches, since major stuff like a new plan for the block being demolished for a new railway line or a landfill tip having been created is unlikely to have cropped up since the last purchases. I always thought Chancel Liability was less likely than being struck down by God, and even lender's need for things like clear environmental searches seem more a 'box-ticking' exercise than any real assessment of risk; our kids had to lash out for an indemnity 'cos the environmental search revealed a long disappeared central heating oil fuel tank on a 'historic map'. I suppose the lender wants no impediment to a qauick sale if you deafult and they re-possess.
I loved being able to say 'no environmental, 'plan plus' or chancel liability' searches to my solicitor when I bought a little BTL flat a couple of years ago for cash, as I knew the area and it was a nice, safe local authority freehold. But even I bottled out and let them do the Local Authority search...

Good luck with the purchase.

[Deleted User]

AlexMac wrote: »

Good luck- I jib at searches, since major stuff like a new plan for the block being demolished for a new railway line or a landfill tip having been created is unlikely to have cropped up since the last purchases. I always thought Chancel Liability was less likely than being struck down by God, and even lender's need for things like clear environmental searches seem more a 'box-ticking' exercise than any real assessment of risk; our kids had to lash out for an indemnity 'cos the environmental search revealed a long disappeared central heating oil fuel tank on a 'historic map'. I suppose the lender wants no impediment to a qauick sale if you deafult and they re-possess.
I loved being able to say 'no environmental, 'plan plus' or chancel liability' searches to my solicitor when I bought a little BTL flat a couple of years ago for cash, as I knew the area and it was a nice, safe local authority freehold. But even I bottled out and let them do the Local Authority search...

Good luck with the purchase.

Agreed lol.

Thanks for the good luck!

jonathanrolande

You will need. Besides anything could have changed meantime.