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Should we have an environmental search done?
Lj0918
Posts: 8 Forumite
Just wondering what exactly this brings up and if it's worth having done? Our solicitors would charge £50 for this. Our lender doesn't insist we have it.
Happy to provide more info as requested
Happy to provide more info as requested
0
Comments
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Who is your mortgage lender? How old is the property? If its a new build then the chances are that thorough environmental searches will have been carried out.
Ask yourself if you would walk away if the search was desperately negative. Obviously if you only plan on owning the house for a short time it might b better to be aware of any future pitfalls on your future sale. However, if this is your forever home and you're satisfied with no search or that even a negative search wouldn't bother you then why bother? Saying that if the environmental search does throw something up then a future lender may refuse remortgage on it (potentially) xxxx0 -
Simply consider the impacts of a "wasted" £50 vs the potentially greater issues - ie land contamination.
Past reports could easily be defective due to age.
You move into your new home blissfully ignorant of any issues and live there happily for 10 years only then to realise that your buyer now have chosen a lender that insists upon a report and it is damning causing a down-valuation of £30k.
Marginally different but I have seen similar with mining (I am in the "black country")0
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