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Indemnity Insurance

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Orlando_Virgin Posts: 482 Forumite

2 July 2009 at 9:27PM in House buying, renting & selling

We have just received our HIP on the house we are buying from our solicitor with notes. She says that:-

1. They have found the land registry search (I think it was) is more than 6 months out of date therefore we have to pay £111 for a new one by law.

2. THey have found the property to be leasehold so although we would own the house, not the land. They also say it is only a GOOD leasehold and not absolute, and usually the mortgage lender these days require absolute so therefore they are pursuing indemnities insurance from the seller.

Just to put my mind at rest before I ring the solicitor tomorrow, can anyone shed any light on this?

I'm comfortable with number 1, but have no idea what cost, timescales etc, are involved with number 2.

Thanks
OV

It's always darkest before the dawn.

"You are sheep amongst wolves, be wise as serpents, yet innocent as doves."

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