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Environmental search fail - cant get indemnity - any suggestions?

Mumof3plusdog
Mumof3plusdog Posts: 4 Newbie
in House buying, renting & selling
We are buying a house which failed the environmental search. The sellers solicitor contacted the council which meant indemnity insurance is now not an option (Grrrrr?!?!?!?!) and the council have said they have just started investigations into a number of areas - including in the area we are looking to buy which will take a year to complete!
Our lender won't lend currently on the property until the council gives a report....
Any suggestions - other than try a different lender?
many thanks

Comments

  • BitterAndTwisted
    BitterAndTwisted Posts: 22,492 Forumite
    10,000 Posts Combo Breaker
    Find another lender? NO! Find another house
  • Mumof3plusdog
    Mumof3plusdog Posts: 4 Newbie
    If there were any other houses in our price range in the area we would :(
  • kingstreet
    kingstreet Posts: 39,298 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    What exactly is the problem?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • ValHaller
    ValHaller Posts: 5,212 Forumite
    1,000 Posts Combo Breaker
    Mumof3plusdog wrote: »
    We are buying a house which failed the environmental search. The sellers solicitor contacted the council which meant indemnity insurance is now not an option (Grrrrr?!?!?!?!) and the council have said they have just started investigations into a number of areas - including in the area we are looking to buy which will take a year to complete!
    Our lender won't lend currently on the property until the council gives a report....
    Any suggestions - other than try a different lender?
    many thanks
    Grrrrr???

    Well we don't know what the problem is but it may not be a problem which Indemnity Insurance really fixes, in which case your solicitor was probably right to do whatever he did. You really do not want to buy a property which could become unmortgageable under YOUR feet.
    You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'
  • Mumof3plusdog
    Mumof3plusdog Posts: 4 Newbie
    The area was an old clay/sand quarry and as such was filled in 50 years ago when they built the development. The council have done a preliminary investigation into this and 5 other areas within the county and say its possible the land is contaminated and so want to do further investigations....It affects around 200 houses,1 of which is the one we are trying to buy.....

    thank you for all your thoughts
  • Miss_Merlot
    Miss_Merlot Posts: 100 Forumite
    How does contacting the council invalidate the indemnity, sorry...?

    What about all other 200 families on the development - surely you aren't the first to submit a report request...?

    Ask cause I am in the same situation currently.
This discussion has been closed.
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