Owning a listed property may seem like a dream come true for many – but it can quickly turn into a nightmare if you don’t take the right steps.
Buying a listed building is fraught with pitfalls and could end up costing you more than you expect, preventing you from making the property improvements you want.
Although it may be tempting to jump at the chance of owning a unique, historic home, it’s crucial that you do your research first and evaluate any plans you may have to modify.
The reality of buying a historic building is that the owners are merely custodians and not the property of their castle as it is often impossible to make major changes.
First things first – do your research
It’s great to think ahead about all the changes you can make when transforming a listed building into your dream home, but you need to prepare well in advance to make sure your plans are possible.
Firstly, you need to instruct a heritage surveyor and a solicitor with experience in listed properties, who will work together to ensure all permissions for prior alterations are obtained.
You should check the Historic England website as all listed properties are located there and also check your local council website for listed building consent and planning applications.
If you are considering making alterations, check whether this is possible with Historic England or your local authority heritage officer and get their opinion before starting anything. Even installing a car charging port or air conditioning unit will likely need approval, so consider this carefully before purchasing.
Another consideration is the price of building insurance for listed buildings and the legal requirement to cancel any unauthorized work previously carried out to avoid problems and additional costs in the future.
What obstacles might stand in your way?
We are seeing more and more lenders refusing to grant mortgages on listed properties if unauthorized works have been carried out until retrospective approval has been obtained. This can take several months, so it can seriously delay your purchase.
Owning a listed building also comes with centuries of responsibility to maintain its condition and keep it from deterioration. It must be kept in good condition.
Councils have statutory powers to serve an urgent works notice or repairs notice to the owner of a listed building to prevent further deterioration if they consider it to be at risk. They will take action to repair and protect neglected, redundant or derelict listed buildings.
If the building owner does not take the necessary steps to preserve it, the council has the power to carry out work at its expense or even to compulsorily purchase a building deemed to be at risk.
Are you looking to make changes? It can be expensive or even a crime
Another warning that buyers should pay attention to is unauthorized modifications. Unlike unlisted properties, buyers of a listed building are responsible for any previous alterations made without consent.
Given that making alterations to a listed building without consent can result in criminal penalties, this is a very important consideration.
In addition, the cost of materials and specialized workers has risen dramatically, and finding people with the necessary skills can be very difficult. There was a recent case I worked on where a homeowner was offered over £1 million to repair a wall. This is a high price to pay for small change.
Overall, buying a listed property is not just about buying your dream home, it is a responsibility that should not be underestimated.
Simon Noseworthy is Head of Residential Conveyancing at Osborne’s law
