Mortgage Indemnities Insurance Help!!!!!

Dazza88

Hi everyone,

I'm a FTB the house we are trying to buy requires us to have
3 indemnities policies.

My question is will this effect our mortgage offer from nationwide? has anyone heard of a mortgage offer being withdrawn due to indemnities

Many Thanks

drdpj

The indemnities are being requested by your solicitor to satisfy the requirements of your lender - I'm assuming it's things like boiler installation certificate and so on? It's basically to cover you if building control come along and try and make you rip things out for not being compliant with building regs.

It won't cover you if your boiler explodes, consumer unit goes on fire or extension falls down though, so do make sure that *you're* happy the things are safe!

d.

Dazza88

Thanks for the reply sorry for poor spelling.

The indemnities cover
1 A lease from 1945 that is missing.
2 Breach of covenant due to lack of consent from original developer for a extension.
3 Building regs over windows installed in 2011.

Solictors said all are pretty normal as a stand alone but 3 could scare the lenders. Which has left me worried over Xmas.

Will the bank be happy we have taken out protection or worried about lending us the money.

Dave_the_Ginger_Cat

I think they will be pleased they you, and by association they are protected.

The only one which might raise an eyebrow is the window. It depends if it is structurally good, or is it was below standard. So for example if a window was fitted without support above which places the wall above at risk, then that might be dodgy. I might ask your valuer for an opinion of it.

Let_Us_See

Aren't you concerned about the (three) reasons indemnity policies are required?

Dazza88

Not really the first and second indemnities are linked because the original lease was missing. This is over 70 years old so highly doubtful the original developers will have a problem.

The third indemnity is due to lack of FENSA certificate for the windows but my father in-law is happy with them and his a building surveyor. Plus the mortgage valuation had no problem with them

My only worry is from a mortgage view point as we our very close to exchange and the Solictors are waiting to hear back from nationwide.

Dave_the_Ginger_Cat

If a surveyor is happy, then I hope your lender will be also

They'll open again Friday, and more fully next week, so relax and enjoy any holidays you have

ethank

Who fitted the windows though? As most windows fitted benefit from 10-15 year guarantee. No FENSA means almost certainly no guarantee.