What are pre-completion searches and why do I need them?

These are a group of searches carried out by your conveyancing professional to check that nothing about the property you are buying has changed during the conveyancing process.  

Up until lockdown and the stamp duty holiday, the average length of a conveyance in the UK was approximately three months. Over the course of three months, things could easily change: it is possible that a person could be made bankrupt or alterations to a property could have been made. 

These searches, also known as 'Priority Searches' help ensure that there has not been any change in circumstances affecting the property or your ability to purchase it. 

Completion day
Completion day

Are they mandatory?

Yes, unless you are buying without a mortgage. When you are buying with a mortgage, the conveyancing solicitor has to follow a set of standard instructions defined in The UK Finance Mortgage Lender’s Handbook.

  • Your lender will insist on a bankruptcy search 
  • If you’re buying the whole of a registered title an OS1 is needed 
  • If buying part of a title (such as a new build plot) an OS2 is required 
  • A K15 is done in place of an OS1/OS2 when purchasing unregistered land. 

When are they ordered?

Between exchange of contracts and completion. 

 

What do they tell you?

Bankruptcy Searches (K16) 

It’s a specific check to see if you are still creditworthy, making sure your lender is loaning money to someone who has no prior history of not being able to repay loans, such as being bankrupt. The search typically goes back five years and confirms whether you are or are about to be made bankrupt. 

Priority searches

 These are last-minute checks the title of the property hasn’t changed in any way since the official copy of the Title Register was obtained early on in the conveyancing process (see previous articles for details on the OC1 from the Land Registry). 

They can include: 
Land Charges Search (K15) 
Official Search of Whole with Priority (OS1) 
Official Search of Part with Priority (OS2) 
Official Search of Whole or Part with Priority (OS3) 

The government advises this is applied for five days before completion, to allow time for the official search certificate to arrive. 

As well as updating the details of the property’s title, this search also ‘freezes’ the title, so no further changes can be made to it for 30 business days. 

Are there different types? 

 Land Charges Search (K15) - this is carried out if you are buying unregistered land. 

Official Search of Whole with Priority (OS1) - this will confirm whether there have been any alterations to the register since the date that the official copies were produced. It also protects the buyer by giving them priority which prevents anyone else registering a charge against the property. 

Official Search of Part with Priority (OS2) - similar to the OS1, the OS2 is carried out where the buyer is buying a part rather than the whole of the registered title. 

Official Search of Whole or Part without Priority (OS3) - similar to the OS1 and OS2, the OS3 does not give the buyer priority and is therefore not used very often. 

What do they cost? 

All these searches are ordered from the Land Registry and require an account in order to do so. The Bankruptcy and Land Charges cost £2 and the OS1 and OS2 costs £3 (per name). The OS2 costs £6 and the OS3 is rarely used. 

How long do they last? 

The K15 is valid for 3 weeks from the date of issue. The OS1 and OS2 is valid for 6 weeks. They should be valid until the application for registration is submitted, therefore it should not be ordered more than 3 weeks in advance of completion. 

If you are thinking of buying or selling your home, you may find some of these services useful: