Buying a home with history
Living in a listed property is an opportunity to be a custodian of a piece of history, but what are the hidden pitfalls for buyers?
2 min read
A grand estate with a distinguished architectural pedigree. An ancient building showcasing traditional construction methods. A home of significant historical importance.
At Coutts, we have been helping clients maintain and care for character properties for hundreds of years. Many of our clients have had listed properties in their families for generations before the concept existed.
By owning a listed property you join a chain of history that can stretch back centuries. Many people consider this a great privilege, and there is evidence that listed buildings maintain their value more consistently than other buildings.
But it’s an obligation that you shouldn’t take on lightly. As well as the obvious responsibilities that caring for a piece of the nation’s history brings, there are less obvious pitfalls that you should be aware of.
What a listing really means
As Mark Bevan, Managing Director in Coutts Landowners team explains, “If you’re considering buying a listed building, it is essential you’re fully aware of what a listing means and the responsibilities it brings with it. For example, the listing can apply to both the interior and the exterior of a property and will cover everything in existence at the time of the listing, regardless of its age. Since 1692 landowners across the country have relied on the expertise of Coutts, which is why we are able to offer the particular relevant support and advice in the purchasing process that meets their needs.”
It is important to remember that any manufactured object or structure that’s on the land attached to the site (known as ‘curtilage’) which was in existence on 1 July 1948 is also included.
The main fabric of the interior is controlled, too – this will affect the floor layout, staircases, fireplaces and so on. And the listing also includes the maintenance and repair of the building, which must be sympathetic and undertaken using appropriate materials by contractors with experience working on listed buildings.
Become A Client
When you become a client of Coutts, you will be part of an exclusive network.
Buying a listed property gives you a chance to become a custodian of history. But with this privilege comes an obligation to maintain a building’s integrity and keep it safe for future generations. Working with a trusted and experienced partner like Coutts could help you navigate the complications of buying and owning a piece of our heritage.
About Coutts Lending
Whether you need a mortgage, want to borrow against an investment portfolio or need a personal loan, Coutts advisers will work with you to understand your lending needs and offer sophisticated solutions.Explore more about Coutts Lending