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Clare
Clare, Solicitor
Category: UK Law
Satisfied Customers: 33283
Experience:  family solictor with 25 years experience
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Are the pre-completion searches the same that are done at

Customer Question

Are the pre-completion searches the same that are done at the start of the transaction but covering the period from the last time the searches were done to the date it is now done?
Submitted: 1 year ago.
Category: UK Law
Expert:  Clare replied 1 year ago.

Hi

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further details first

Could you tell me a little more about the background to your question please

Customer: replied 1 year ago.
Thanks Clare for taking this up.I am selling my main residential property & buying a new one and taking a mortgage. I also have another property on which there is a mortgage with another provider.
Customer: replied 1 year ago.
The mortgage provider for my new property has already made me an offer which I have accepted but I did not disclose I had another mortgages property. Am worried that as part of the pre completion. Searches (I.e between exchange date and completion date), this comes to light.
Customer: replied 1 year ago.
My understanding is that precompletion searches are only on the property that am acquiring to check that there have not been any new charges registered against that property since the search was last done at the start of the transaction. Correct?
Expert:  Clare replied 1 year ago.

No the Searches that are done prior to completion relate to Land Registry and Bankruptcy searches -however you will of course be at risk of your mortgage being withdrawn at the last minute if your Mortgage Provider does find out and decides it contravenes their policy.

Please ask if you need further details

Customer: replied 1 year ago.
The Land Registrry is done on the new property am buying, right? The Land Registry is not done by name, correct?
Expert:  Clare replied 1 year ago.

That is correct

Customer: replied 1 year ago.
If the Land Registry search was done by name, then the other mortgages property would have come up. In any case, the other mortgaged property ( the one not disclosed) would have come up when the initial Land Registry search was done at the start of the transaction, isn't it?
Customer: replied 1 year ago.
Since it did not come up on the searches done at the start of the transaction, it is extremely unlikely it will come up when they do the second round of searches, isn't it?
Expert:  Clare replied 1 year ago.

Land Registry Searches are not done by name at all - only the Bankruptcy search is done by name

Customer: replied 1 year ago.
Thanks! And the Bankruptcy search will not reveal the other mortgaged property as I am not defaulting on the mortgage obligations. So, I guess it should be fine, correct?
Expert:  Clare replied 1 year ago.

It should be - but there is of ocurse a risk

Customer: replied 1 year ago.
Ok thanks.
Expert:  Clare replied 1 year ago.

You are welcome - I hope all goes well

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