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  • FIRST POST
    Sammie_UK1
    Extension with no Building Regs - Indemnity Insurance confusion..!
    • #1
    • 26th Apr 12, 5:19 PM
    Extension with no Building Regs - Indemnity Insurance confusion..! 26th Apr 12 at 5:19 PM
    Hi,

    I'm in the process of buying a house which has had some building work done on it. The current owners say that the work was done before they purchased the house and they do not have details on whether the work done conforms to building regulations. I've recently discovered that due to this I might need to obtain an Indemnity Insurance Policy.

    My questions are:

    Has anyone in a similar position been required to obtain an Indemnity Policy?

    Is it absolutely neccessary? Will my mortgage company not comply/offer funds without a policy in place?

    How much does it cost to set up?

    I'm guessing that the current owners must have an indemnity policy in place from when they bought the house, can I not take over their policy and extend it?

    Sorry if my questions are dumb, I know nothing of Indemnity Policies and I have a newborn to tend to so don't have the time to do my research and find out myself?

    If anyone can share their experiences of Indemnity policies and buying properties without building regs, that would be most helpful.


    Thanks..
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