Local property search firm, X-Press Legal Services North West, South West and Central London is revealing the risks that you should look out for when buying a property in the capital.

Before a buyer commits to buying a property by exchanging contracts, they need to know as much as possible about it- especially anything that may affect its future value or their enjoyment of it.

Property searches are enquiries made on a buyer’s behalf by a solicitor or conveyancer to various authorities that hold information about a property, the land it sits on or factors that may directly (or indirectly) effect it.

X-Press Legal Services provides these expert property search reports to the local conveyancing sector. Producing hundreds of thousands of property search reports each year, coupled with its experts on the ground, X-Press has an in-depth knowledge of the potential risks that are particular to London and the surrounding areas.

Tom Mannion, owner of X-Press Legal Services North West, South West and Central London comments: “Along with the common property search risks such as flooding, contamination and planning- each region of the UK has its own particular search risk given the geology and industrial history of the area.

“Over our many years of providing search reports, we have a pretty good idea of the risks our region is most likely to reveal. Our team then supports local conveyancers to deliver a complete picture of not only the property, but the area surrounding it.”

A risk factor specific to the capital is transport infrastructure.

Tom comments: “Throughout the capital and much of the South East, ongoing transport infrastructure updates are major risk factors for those buying property. As are historic transport routes, which still need to be checked to make sure they don’t pose a risk to modern developments.

“Crossrail, Underground updates and the Post Office Railway are just some of the transport links and risk factors specific to the region- shallow tunnels and deep level excursions which affect ground stability, noise and air pollution, and potentially planning permission.”
In the UK last year, over £400 million was wasted on failed property transactions in England and Wales. For the consumer, this could mean one in three people losing a significant amount of money in failed attempts to buy or sell their home, and for some- this could put an end to their residential sale or purchase for good.
Tom adds: “It is important to remember that you may have found the perfect property, but that the location can have hidden risks. We have an in-depth understanding of the risks present in our region associated with property transactions, and we put that knowledge to good use with our conveyancing clients- protecting consumers buying or selling a property.”