What Is An Environmental Search?

Most mortgage lenders will require an environmental search before a property is purchased. If you are a cash buyer of a property, an environmental search is not legally required. However, it is highly recommended. In this blog post we look at what an environmental search is and why it’s recommended that you have one.

Many people thing that an environmental search is the physical inspection of the land which the property lies on. However, this is not the case. The search actually looks at the environmental factors. Those factors that pose a risk to the property or those living within the property. The search is based on current and historical records that are held by the search agency.

These searches are so important because environmental issues are becoming more and more relevant for house buyers, mortgage lenders and home insurers too. The search will look at factors such as subsidence, flooding and land contamination. All of these factors will affect the value of the property. They will also determine if the property is mortgageable or insurable.

You will find that new developments are frequently built on land that is close to or previously used for industrial purposes. Many years after the land use ceased, ground contamination can still pose a significant health risk to those living in the property. If you were to find that the land your home sits on was contaminated land after it has been purchased, it can result in the property being unsaleable.

If a risk factor arises when the environmental search is completed on your property you can decide what to do next. It really is dependent on personal preference and the nature or severity of the risk. If there are remedial costs to overcome the risks, these could be used in negotiations. For example, they could be removed from the value of the property.

Our conveyancers in Peterborough can help manage the searches for your property. They will talk through any concerns that arise and best advice how these can be managed. If you are buying or selling a house in Peterborough, call our conveyancing lawyers now. We will help to make the legal process as smooth-running and stress free as possible.