Unadopted Road, Indemnity Insurances?

Toadeh

Hi All,

Last snag in getting the house, is it possible to get indemnity insurance for an unadopted road? and whats the possible cost?

Currently, its a new build, estate isn't finished and they have not finished the paperwork for the road adoption. Solicitor has disclosed this to the lender but they are taking ages to finish their decision (mortgage is approved by the way).

My thinking is, for the sake of a few hundred quid, can I appease them, we can progress forward and I can get some sleep without worry. Meant to complete on the 20th by the way

Itsallgoodinthenorth

I personally would give "Countrywide Legal Indemnities" a call. Extremely good at explaining things. But also check with your solicitor as they tend to have an option too.

camptownraces

Toadeh wrote: »

Hi All,

Last snag in getting the house, is it possible to get indemnity insurance for an unadopted road? and whats the possible cost?

Currently, its a new build, estate isn't finished and they have not finished the paperwork for the road adoption. Solicitor has disclosed this to the lender but they are taking ages to finish their decision (mortgage is approved by the way).

My thinking is, for the sake of a few hundred quid, can I appease them, we can progress forward and I can get some sleep without worry. Meant to complete on the 20th by the way

What would indemnity insurance protect you against? - it certainly wouldn't cover the cost of resurfacing an unadopted road, most likely at most it would cover a few hundred quidsworth of solicitor's fees next year or the year after.

Why worry? the local authority will adopt the road sooner or later.

We had this a few years ago. When the road was finished the LA adopted the road, and the water authority adopted the drains and the pumping station.

spacey2012

Possible they are worried it will stay in ownership of estate management and a PPC will infest the estate making the homes unsellable.

camptownraces

spacey2012 wrote: »

Possible they are worried it will stay in ownership of estate management and a PPC will infest the estate making the homes unsellable.

What's a PPC? Can it be insured against?

Toadeh

Think thats the reason. Paperwork to adopt is is nearly complete, they just need to finish it.

Still waiting on the valuer to get back to the lender. It was just an idea to see if we can alleviate the situation. Might just push the completion date back if it carries on.