When buyers in England and Wales take out a mortgage on their property purchase, their mortgage lender will usually require them to carry out a number of ‘Property Searches’.
Searches are essentially enquiries made of the local and water authorities as well as local parishes and environmental agencies. They may also include specific area searches such as mining where there is a risk of the property being affected by underground mining or brine pumping.
It is customary for Conveyancing solicitors to quote buyers for searches as part of the initial Conveyancing Quote, although it is usually not possible to give an exact cost up front as search costs vary greatly between local authorities.
Moreover, the solicitor cannot know the exact suite of searches required on a property until they know the lender requirements or the specific searches required by the property’s locale.
As beneficial as searches may be, they add around £360 on average to the cost of moving. Worse still, unlucky buyers faced with an abortive transaction (national statistics indicate approx 30% of property transactions fall through), will have to fork out for searches again when buying an alternative property.
In order to reduce this added expense, Fridaysmove are now offering SearchPlus Protection. This means that if for any reason your property purchase falls through, the same searches that were carried out on your first purchase will be carried out on the next property you buy completely FREE of charge.
This means that even if you are unlucky enough to experience a property falling through, you will not have to pay for your second set of searches.
Frequently asked questions
Do you charge more for your service or for the first set of searches to compensate?
No. Searches with Fridaysmove are a disbursement and are passed on to the client at cost. They are not marked up and the price has remains unchanged since the introduction of SearchPlus Protection.
Does this apply to all searches – even Official Local Authority Searches?
SearchPlus Protection includes all local authority searches whether carried out by a personal search agent or by an official at the local authority.
What if I pull out – am I still covered?
Yes. Whether you or your seller pull out or the property chain collapses, SearchPlus Protection covers you no matter what the reason for the property purchase not going through.
Will the Conveyancing still be No Sale No Fee?
Yes. SearchPlus protection does not affect any other aspect of the conveyancing service and you will still be covered by our No Sale No Fee guarantee.
How Do I qualify for SearchPlus Protection?
All clients instructing a Fridaysmove Conveyancing Solicitor for their home purchase qualify for SearchPlus Protection. You will need to use a Fridaysmove Solicitor for your second purchase which will of course be part of our overall No Completion, No Fee conveyancing service so you will not have incurred any fees on your first abortive purchase.