SMF - Just Installed!

BTL house purchase/ searches/asking for advice

Started by Rafal, October 28, 2024, 11:19:52 AM

Previous topic - Next topic

Rafal

Hi, I'm looking for advice regarding a BTL property purchase, semidetached house, residential area in North West. In searches from solicitors these points were highlighted as potential obstacles to the future remortgage, selling, house value, etc. Have you ever had similar situation and/or how significant these searches are. What do you think? Thanks in advance!
There is no title deed for the property number that is being sold, the title deed is for the property number 1, 2, 3 Street, and only 2 is being the subject of the sale.
Surface water - High risk. Data indicates the property is within 25 metres of an area where the surface water flood risk is significant this indicates there is a 1.33% chance of flooding between thirty centimetres and one metre in depth in any given year. Therefore we consider the overall risk of surface water flooding to the property to be very high.
Coal mining Reporting area - Pass with considerations. The authority indicates that the property is located within 25 metres of an area that may be affected by coal mining.
Oil and gas – Pass with considerations. Data provided by the North Sea transition authority indicates that the property is within 5000 metres of one or more sides operated under a petroleum exploration and development licence. The existence of a current or historic oil or gas site does not necessarily mean that gas production is actually occurring or will occur.
Power stations – Pass with considerations. Data provided by the Department for Energy Security and net zero indicates that the property is without 3000 metres of an active power station. An infrastructure project has the potential to create blight caused by the uncertainty as to the project outcomes and this can affect the ability to buy and sell property in the affected area.
Wind farms – Pass with considerations. Data provided by renewable UK indicates that the property is within 3000 metres of one or more existing or proposed wind farms.

Hippogriff

The results of Searches nearly always make you soil yourself.

Just buy it, go against the flow of Landlords exiting the PRS... always a winning strategy. It's not like there's ominous legislation heading our way, is it?