How do I buy Building Regulations Indemnity Insurance

Richard_Webster

Quote:
Originally Posted by pmcx9
I do not wish to hijack this thread but I have a similar problem.



Is it likely a surveyor will pick up on this and would an indemnity guarantee be sufficient to make it mortgagable?

Thanks.
In 2 words, yes and yes!

I agree.

Indemnity insurance covers action by local authority. As has already been pointed out, the window for action is limited. So it is probably worthless but some mortgage lenders will insist upon it!

In this kind of case if acting for a borrower I write to the lender pointing out that there is virtually no chance of enforcement and that their surveyor may consider that if it has been like that for X years it is probably OK. I also ask the seller's solicitors to provide or pay for a policy just in case it is a lender requirement and so it is in place when my clients sell, but I tell the clients its only real purpose is to keep lenders happy.

pmcx9

Thanks for advice.

I have been researching this further and this appears to throw up a dilemma for others considering future small works.
My local authority want £260 for a builders notice and would require a structural engineers report on the required beam, say £100 so £360 total.

As a poster mentioned earlier an indemnity guarantee could be had for £77.

This leads me to understand why my previous house owner did not bother with following correct procedure.

Richard_Webster

My local authority want £260 for a builders notice and would require a structural engineers report on the required beam, say £100 so £360 total.

As a poster mentioned earlier an indemnity guarantee could be had for £77.

Too late now to go for indemnity insurance - the Council should not have been contacted.

andy.m_2

"You can't invite the vampire over your threshold!"

(quote from Lost Boys)

Policy is null and void if you involve the authorities, very clearly in the small print.

mysk_girl

pmcx9 wrote: »

Thanks for advice.

I have been researching this further and this appears to throw up a dilemma for others considering future small works.
My local authority want £260 for a builders notice and would require a structural engineers report on the required beam, say £100 so £360 total.

As a poster mentioned earlier an indemnity guarantee could be had for £77.

This leads me to understand why my previous house owner did not bother with following correct procedure.

Don't forget you will need to open up the ceiling to show the beam and connections to the joists to your engineer. So pulling down part of the ceiling and then reinstating, which can add costs.