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user051105
Posts: 652 Forumite
We are buying a flat that was converted in 1950, originally a house but converted to two flats, as it was so long ago there was no need for planning permission. We have had mentioned we will need indemnity insurance, but when we ask for what this is, both solicitors go quiet and won't commit to how much this would be or what it is for.
So a cry for help from the users, does anyone have any information or a link to a site for this sort of cover. If it makes a difference there would be £85,000 of cover.
Has anyone had to get a quote for this, yes I know this is something a solicitor should have full information on but they are so darn slow and they are really frustrating me.
Many thanks in advance for help, it will be greatly appreciated.
So a cry for help from the users, does anyone have any information or a link to a site for this sort of cover. If it makes a difference there would be £85,000 of cover.
Has anyone had to get a quote for this, yes I know this is something a solicitor should have full information on but they are so darn slow and they are really frustrating me.
Many thanks in advance for help, it will be greatly appreciated.
Debt Free Wannabee - Updated 13/08/2007
Barclaycard - [strike]£3002[/strike] now £1712 Mortgage - £84,393 - Paid in 340 months time.
Barclaycard - [strike]£3002[/strike] now £1712 Mortgage - £84,393 - Paid in 340 months time.
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Comments
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Why do you need indemnity insurance if planning permission wasn't required?Everything that is supposed to be in heaven is already here on earth.
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That why i trying to find out what its for, please don't answer a question with anotherDebt Free Wannabee - Updated 13/08/2007
Barclaycard - [strike]£3002[/strike] now £1712 Mortgage - £84,393 - Paid in 340 months time.0 -
user051105 wrote:That why i trying to find out what its for, please don't answer a question with another
ouch! that's a bit rude!
I personally would push my solicitor to sort this out - that's why you're paying him.0 -
Indemnity insurance would only cover you for the loss in value of the property not having the relevant planning permission. Whether this is actually worth anything other than being able to say you have insurance to future buyers when you sell is doubtful.
Whether there was a need for planning permission is no longer relevant as the conversion took place long enough ago that you cannot now be required to restore the original situation.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
thanks silvercarDebt Free Wannabee - Updated 13/08/2007
Barclaycard - [strike]£3002[/strike] now £1712 Mortgage - £84,393 - Paid in 340 months time.0 -
In my experience, it would be the vendor that pays for the indemnity policy where PP and building regs approval haven't been obtained, not the purchaser.
A policy usually costs between £75 - £200 but I would ask your solicitor, if they are insistant upon the policy being purchased (I can't see the point personally), that your vendor pays for it.
I misread your post. I thought you were wanting a policy but your solicitor was being woolly. Sorry. Are you going to have a go at me now for trying to help after you've officially closed your thread?
Everything that is supposed to be in heaven is already here on earth.
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dont answer another question with anohter? why? oh ive done it, hav'nt i?user051105 wrote:That why i trying to find out what its for, please don't answer a question with another
be nice to people on here and they will help you - and if they have to ask a question, its to help you, no need to be snappy
Never do things tomorow when you can do them today.0
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