Searches UK comment on how Brexit may affect the property market

Searches UK comment on how Brexit may affect the property market

The result of last month’s referendum surprised many people, both in the UK and overseas, and whilst it raises questions about the direction in which Britain is headed, Searches UK considers the affects to the property market and how this may affect solicitors, conveyancers and homebuyers.

There is speculation about what will happen next, be it negative or positive, and although the pound has dropped, overseas investors appear primed to take advantage of this position meaning solicitors and conveyancers could be kept busy by these buyers.

The value of properties across Britain have notoriously been on the rise but now first time buyers may have a unique opportunity to buy their desired property at a slightly reduced price if the property market experiences a temporary decrease in value, particularly if the hints from the Bank of England to keep or even lower interest rates come to bear.

During these transitional periods, when homebuyers are unsure about what the best course of action is, it is wise to add one of Searches UK’s reimbursement schemes to your search order. Buyer Protect is a scheme which covers initial costs paid out by the homebuyer, up to the value of £2,050, in case their property transaction fails to complete. Search Protect is similar but only covers the cost of searches up to the value of £300.

Andrew Stenning, Managing Director, at Searches UK said:

“Change always brings uncertainty and we are living through a transitional period in British history. We have yet to see and experience the full effects of Brexit but Searches UK can and will continue to offer invaluable searches to our clients including such products as Buyer Protect. Our team are always on hand to assist with any queries and our ordering processes are simple and hassle free to enable our clients to get on with other, more important tasks.”

Searches UK is a leading conveyancing search provider across England and Wales, providing both residential and commercial searches. Full details about their searches can be found by visiting www.searchesuk.co.uk.

A detailed summary can be found about Buyer Protect and Search Protect on the Searches UK website, as well as information about what is covered and how to make a claim.

Homebuyers will be protected by the reasons set out in their terms and conditions but it includes reasons such as if the property sustains damage, the valuation reveals that rectification work needs to be carried out and the lender applying for a retention on the mortgage.

To keep up to date with the latest from Searches UK don’t forget to download their app from the iTunes app store or Google Play.

For more information about any of the products and services from Searches UK visit their website and follow them on Facebook, Twitter, LinkedIn or Google+. Alternatively call them directly on 0800 043 1815 or email them at [email protected] to speak to one of their dedicated team today.

This article was submitted to be published by Searches UK as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

Searches UK

https://www.searchesuk.co.uk

Searches UK is one of the country's leading Conveyancing Search providers.  Founded on the idea that you can combine first-class service with accurate and reliable conveyancing searches without having to compromise, it is our goal to ensure you get the results you need quickly and efficiently.

We offer the full range of conveyancing searches, for both residential and conveyancing transactions, which can be ordered along with our Buyer Protect Scheme if required, ensuring that your clients benefit from our unique reimbursement scheme and are protected from some of the associated costs, should the transaction not complete.  We also offer a wide range of title insurance and indemnity policies and can provide fast turnaround times on EPCs, AML ID checks, Asbestos Surveys and Fire Risk Assessments too.

All our searches are backed with fully comprehensive PI insurance, giving you complete confidence and peace of mind.

We don't use call centres, so when you choose Searches UK, you get direct dial access to one of our skilled conveyancing search specialists, who will have the knowledge and expertise to ensure you get the most accurate results possible at the best value for money.

At Searches UK we understand the difficulties you face in dealing with your risk and compliance obligations and we have ourselves been applauded by Legal Eye for having extremely robust systems in place.  In July 2012 we became the first search provider to have been awarded the Legal Eye Quality Standard.

As well as being an appointed representative of First Title Insurance plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 202103.


Contact: Searches UK

Tel: 01273 776625

Email: [email protected]

Address

Unit 2,

Gemini Business Centre,

136-140 Old Shoreham Road,

Hove,

East Sussex,

BN3 7BD

 

 

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