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chancel repair indemnity
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Seeing this,I wonder if there is such a policy to protect the purchasers of ex LA properties against being hit by the LA when they decree that major repairs or refurbisments are required.0
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It's a genuine insurance policy.
It seems expensive, but.... often the amount of mney the curch can claim is nearly unlimited.
Suppose they need a new roof and it costs £2million.
And there are 20 houses in the chancel.
That's £100k each, non-negotiable.
you on the ChancelCheck payroll already? at least their scare tactics are working0 -
Just BUYING in St Albans and my Solicitor has told me they will be adding a £80.18 chancel insurance premium to my bill, as it is a REQUIREMENT by my mortgage lender (HSBC). Is this true? I can be forced to purchase chancel indemnity?The Head Honcho (does very little work)0
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Depends how you interpret HSBC's requirements which will be rather vague in this kind of area. I would tend to agree with the solicitors conclusion and say that it is required.Just BUYING in St Albans and my Solicitor has told me they will be adding a £80.18 chancel insurance premium to my bill, as it is a REQUIREMENT by my mortgage lender (HSBC). Is this true? I can be forced to purchase chancel indemnity?
Solicitor could seek clarification from HSBC on the point. Trouble is when a solicitor asks a lender a question like this it can take weeks and weeks to get an answer in writing and meanwhile the transaction is held up - so a lot of people prefer to pay up and move.
We would all be helped if there was clarification from lenders about some of these more obscure points - and even more helped if the liability was abolished altogether instead of this half baked situation that it will die because the churches forget to register before 13th October 2013.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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