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Insolvency Indemnity advice
asahatter
Posts: 2 Newbie
I recently married and moved into my wife's (mortgaged) property. We are in the process of remortgaging and in order to do take both our incomes into account I need to be added to the title deeds.
My wife is therefore gifting part of the house at undervalue, and the conveyancer has advised that the lender requires Insolvency Indemnity insurance.
This seems fair enough under current legislation, but they will only offer me insurance from one company, and a (tricky) search online has revealed better priced products available. The conveyancer, which has been appointed by the lender, insists that if I want to use an alternative insurance policy musty buy it myself - but such products are only available to solicitors and licensed conveyancers...
How can I get such an alternative when any solicitor or conveyancer I speak to says that they cannot act for me as I already have a conveyancer appointed?
My wife is therefore gifting part of the house at undervalue, and the conveyancer has advised that the lender requires Insolvency Indemnity insurance.
This seems fair enough under current legislation, but they will only offer me insurance from one company, and a (tricky) search online has revealed better priced products available. The conveyancer, which has been appointed by the lender, insists that if I want to use an alternative insurance policy musty buy it myself - but such products are only available to solicitors and licensed conveyancers...
How can I get such an alternative when any solicitor or conveyancer I speak to says that they cannot act for me as I already have a conveyancer appointed?
0
Comments
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If you are unable to obtain the insurance. How have you managed to obtain a formal quote?0
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