This search is undertaken shortly before completion takes place to ensure that no financial charges have been registered against the property which have not been disclosed by the seller.

The significance of this issue is that any such financial charges must be paid off by the seller on completion.  The object of the search is therefore to protect the buyer and the buyer’s mortgage lender.  The latter requires that it should have the first registered financial charge against the property.

This search is undertaken in every case, whether or not you are buying with the benefit of a mortgage.