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Professional supervision indemnity
xjay247x
Posts: 10 Forumite
Hello, we are currently in the process of buying our first home, we're finally at the stage where can exchange, however one thing it holding us up.
My mortgage lender requires a professional supervision indemnity certificate.
The reason for this is because the property has been converted from a public house into 3 separate properties. I've spoke to the vendor directly, and she doesn't seem to have it..
she said she will sort it out with her solicitor, its been 2 weeks now & I've just spoke to my solicitor and they told me they have sent the wrong document (planning permission..) so they seem to have no idea either!
Can anyone shed a bit of light into what this is?
Thanks!
My mortgage lender requires a professional supervision indemnity certificate.
The reason for this is because the property has been converted from a public house into 3 separate properties. I've spoke to the vendor directly, and she doesn't seem to have it..
she said she will sort it out with her solicitor, its been 2 weeks now & I've just spoke to my solicitor and they told me they have sent the wrong document (planning permission..) so they seem to have no idea either!
Can anyone shed a bit of light into what this is?
Thanks!
0
Comments
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No idea. Ask your solicitor to explain what it is that's missing.
Sounds like either connected to
* Planning Permission
* Change of Use consent
* Building regulations sign off0 -
she said she will sort it out with her solicitor, its been 2 weeks now & I've just spoke to my solicitor and they told me they have sent the wrong document (planning permission..) so they seem to have no idea either!
Can anyone shed a bit of light into what this is?
Your solicitor has no idea what it is? That's worrying - how will they recognise it when it turns up?
I presume it's insurance cover because there's no architect's certificate signing off the conversion.0 -
Apologies! was referring to their solicitor.
I'm fairly sure my solicitor mentioned it was something to do with insurance cover.
Is this easy for the vendor to apply for?
Thanks!0 -
It's like a newbuild warranty - NHBC etc.
As this is a conversion, effectively it's a newbuild and any mortgage lender will want the benefit of a warranty from one of the recognised bodies like NHBC; or the certification of the architect who supervised the conversion.
It's completely normal in the circumstances and the vendor's solicitor should be obtaining it from the builder/vendor.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.0 -
Had a letter from my solicitor yesterday and as Kingstreet mentioned It will need a new build warranty as it is classed as a new build after the conversion.
Is it still possible for the vendor to apply for a new build warranty (NHBC as an example) even after the house has been completed?
I did a little research online and they seem to mention they inspect the property while it is being constructed, so has me a little worried.0
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