Just 4 Mortgages
What are Searches?
Guide
If you are now at the solicitors stage of your purchase, you may have heard the word 'searches' or you may be waiting for your searches to come back but wondering...what even are they?
If you are buying a house with a mortgage you will need to have searches done. This protects you and your mortgage lender! There are multiple searches done depending on the type of property and the area it is in but the main ones are:
-Local Authority search
-Drainage & Water Search
-Environmental search
-Mining Search
It take a few weeks for these to all come back as the searches are applied for by your solicitor and then done by a third party. So you may find that things will go quiet whilst you are waiting for these searches to come back. Upon the return of the results, your solicitor will then forward the results to you for you to have a read through. The solicitor should highlight anything unusual or anything they believe needs to be looked into further.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but a typical fee will be £494