Should you buy a listed home? by Finance News Bulletin

Published: 27/02/07

News Companies & markets Investing Power collection Campaigns Mortgages & homesMortgage featuresInsurance Consumer advice Broadband & phones Retirement economy & banking Credit & loans Small business Tax & wills communication boards Money blog Tools & calculators Ask an specialist Guides Compare & pay money forIt's not difficult to fall in love with an old structure in Britain

Take a stroll through any town and even the most cold-blooded modernist can stagger across a building they loveA QUICK cash MAKEOVER If you only have one minute to learn how to sort your money, forget the rest and read this>> Our 8-step planBut for those who grab the opportunity of owning an historic house, there is a word that strikes both fear and delight into their hearts - listedBuy a listed building and you also sign up to strict rules as to what can be done

So not remember about plastic double-glazed windows on a barn change or turning a Georgian townhouse into a glossy monument to goblet and steelThe listing of buildings is managed slightly differently by each of the British nations, but all follow a general three-tier systemA rough direct is that Grade I or A buildings are of exceptional interest or national importance; score II*, B+ in Northern Ireland, or B in Scotland, are of particularly important interest; while score II, B in Northern Ireland, or C in Scotland, are of special interest, warranting every attempt to preserve themBeyond that, more modern buildings of outstanding interest can be scheduled, famous examples include the BT Tower, The regal Festival Hall and the East Stand of weapon store FC's former Highbury stadium

Most listed homes tend to be score II level and Peter Anslow, who runs the scheduled Property Owners' Club from his listed home in Hartlip, Kent, says populace can become nervous when they find a property is coveredHe says: 'One of the biggest problems you have when you buy a listed structure is the work done by a preceding owner You inherit what they have done, so any problems identified later are your responsibility'It is much more expensive to maintain a listed building than an ordinary home, as you must deal with exacting tradesmen with particular skills and products

'But while owning a scheduled building carries responsibilities, opposing to what many believe it is possible to extend and become accustomed itHeritage bodies and highly-trained local authority protection officers - the guardians of listed buildings - recognise that it is in a structure's best interests to keep it in useAs an example, the oldest part of Peter Anslow's scheduled home dates back to 1640, but another bit was added in 1820 and he oversaw a further extension a decade agoHe says: 'The conservation official is one detached from God in terms of listed buildings

Most accept that you have to become accustomed buildings to maintain their use and if you don't do that nobody will ever save them'If somebody has a listed building they should get in stroke with the conservation officer and sit down over a cup of coffee and talk through what they desire to do Eventually, you will work out a plan and see how they can help you'While getting a their home up to scratch is leading in most listed property owners' minds, one crucial item is often overlooked

According to NFU joint, an insurer of listed and rural possessions, up to 25% of scheduled homes are underinsured, as owners cover them only up to market worth, not rebuild costs, which can be much seniorJan Davies, of NFU Mutual says: 'It is shocking to realise that one in four owners of the most prized properties in the country are currently without sufficient insurance Owning a listed property is both a pleasure and a blame, but if you are underinsured it will be a major headache as well, should the worst occur'*The Listed Property Owners Club will hold a gratis exhibition at the Business Design Centre, Islington, London, on April 2½2

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