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MortgageIndemnity policies

Thank you for your emails of 14th June 2010 in relation to this matter. I am remortgaging my house......There are two indemnity polices in place because there are two defects in the title. The first is a Restrictive Covenant Indemnity Policy due to the fact that the appropriate covenant consent was not obtained for alterations made to the property. The second policy is a Defective Title Indemnity Policy and this relates to some land at the rear of the property which is registered with only possessory title under SK215892.

My solicitor tell me these policies need to be upgraded at a cost of £500......same solicitor said they were oK 3 years ago,,,,,,it appears the Council for Mortgage Lenders Handbook requires that all indemnity policies must be for the full value of the property as a whole or 110% of the mortgage whichever is the greater sum.
anyone know if this is correct
thanks
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