Chancel Repair Search

Yasmin02

Hi All

My solicitors have written to me and informed me that the flat i am buying is witih a historical boundary of a parish wihch continues to hae potential chancel repair liability. My solicitor has asked hte vendors to pay the premium for an insurnace policy in connection with this. Does anyone know what htis manes as i do not have a clue?

Kind Regards

Yasmin

Doozergirl

http://en.wikipedia.org/wiki/Chancel_repair_liability

It's so tedious! The policy protects you should the church actually ask for money. Thing is, the insurance is actually cheaper than the searches to get a definitive answer on whether you might be liable, and the policy isn't valid if you do the searches, so you just pay for the policy instead.

vansboy

Just had this, too.

Can't see the £1,000,000 policy going too far, if you live next to some really old ruin & the local clergy (or whoever ) want to enforce it !!

Might just about pay for the lead, on the clock tower!!

VB

Yasmin02

Hello

Thanks for everyone respones. So now i know what it is..is it normal for the buyer or the seller to pay this? The only reaosn why i ask is that my solicitor has written to the vendors solicitors asking them to pay it!

Kind Regards

Yasmin

cats!

Hi Yasmin,

No harm in asking the vendors to pay, but they may come back and say no!

Yasmin02

HI All

Does anyone know how much it would cost for me to take out this insurnace ?

Kind Regards

Yasmimn

vansboy

They offered us £1,000,000 cover £90ish so not dear, but not something I'd buy!

VB

loveandlight

Posted by vansboy

Can't see the £1,000,000 policy going too far, if you live next to some really old ruin & the local clergy (or whoever ) want to enforce it !!

Might just about pay for the lead, on the clock tower!!

VB

Exactly what I was thinking! Just because there is an insurance policy in place doesn't mean it will cover and pay out for everything.

tifnstav

i don't understand what your logic is there - you don't want to get the insurance because you don't think it will cover everything?
in which case you won't get the insurance and will be covered for nothing?

the church only has until 2012 or 2013 to register chancel repair liabilities but parishes are becoming more savvy on how to get funds, what with diminishing congregations reducing their fundraising abilities.

its unlikely that you'll be asked for any contributions, but then again, its unlikely your house will burst into flames, you still insure against this.

my main point is - if the seller is paying for it, why are you worried? if they say no, then its up to you whether you want to insure against the "potential liability" - you can get cheaper policies than £90.

I'd say if you are buying for less than £150k you can get a policy for around £40 - if you are buying for less than £250k (this is just ballpark fiugures though) you are looking at around £50.

ask your solicitor to shop around for the best deal, they should be able to access different chancel indemnity insurance quotes online, joe bloggs usually can't obtain this insurance themselves (as i am finding now that I am trying to get the chancel insurance by my little old self). i heard through the grapevine that the vicar of a nearby church is checking the archives for chancel liability and i am a bit nervous!

vansboy

What I meant to type, was that I'd not buy a PROPERTY if it had this kind of liability attached to it.

I'd want it FULLY dealt with & not think an insurance policy the answer.

Sorry if I wasn't too clear!

VB

TANZA_2

My sister has just bought a house. She was in a chain so she paid the insurance on the house she was selling. The vendors of the house she bought paid the insurance on the house my sister bought and I don't know who paid the insurance on the house my sister's vendors bought.
Personally, I think it's just another insurance scam but solicitors put the fear of God into vendors/purchasers so they take otu the insurance anyway. My sister has bought on an estate which was built in the 70s and there are hundreds of houses on that estate which is one of 7 in the village so the church would do well if it claimed on all of those owners. This is a recent thing and will stop after 2013 if the churches haven't registered their rights but if they have then it would be expensive not to have the insurance.