If you are looking to buy a property that falls under Gloucester council, then you will want to read and take note of this.
As has been well publicised Gloucester council was the subject of a cyber-attack last year but a lot of people are unaware of exactly what has been impacted and how. One thing that has been affected is the council’s ability to provide a local authority search for anyone buying a property in Gloucester. For anyone buying with a mortgage this is a legal requirement to satisfy the mortgage lender yet at the time of writing the council are unable to provide them and are unable to give any indication of when the situation may change.
So what can you do?
It is worth checking with your financial advisor what your proposed lender’s position is in this instance before you submit a full mortgage application. Solicitors have generally been obtaining indemnity policies that cover missing/unavailable/delayed searches, but you need to be careful as not all lenders will accept these. If your lender is one that won’t then you need to either wait for the council to resume normal service and hope the person you are buying from is happy to also wait (unlikely) or, you need to change your lender. Either way identifying from the start is hugely beneficial and potentially money saving.
An additional word of caution is that local solicitors are well aware of the issues being faced yet firms out of the area are often not. I would suggest that choosing your solicitor carefully is even more important and it would be well worth having that local knowledge on your side even if their fees are a little higher than you may get by going further afield.
As always if you have any questions or want any further information then please drop us a message, call 01452 260993 or email email@example.com
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