Indemnity Policy?

ben100000

Buying house where they cannot provide the boiler certificate so an indemnity policy is being put in place what is this policy & what do I get from it?

need_an_answer

The policies vary so the best person to ask would be your solicitor to ask the solicitors of the vendor
They are provided by the vendor.

Usually they don't cost much and the cover is basic to say the least.

Personally if you have any concerns over the boiler I would suggest you arrange and pay for a gas safe engineer to take a look at it possibly service it and that will probably give you more peace of mind than the indemnity.

hazyjo

How old is the boiler?

Surrey_EA

As above. I struggle to fathom what use an indemnity policy is to compensate for a lack of Gas Safe/Corgi certificate for the installation of the boiler.

However, I realise they are attractive as a quick and inexpensive get out of jail free card.

Your solicitor is the best one to arrange a suitable policy, usually at the vendor's expense.

Smodlet

Surrey_EA wrote: »

As above. I struggle to fathom what use an indemnity policy is to compensate for a lack of Gas Safe/Corgi certificate for the installation of the boiler.

However, I realise they are attractive as a quick and inexpensive get out of jail free card.

Your solicitor is the best one to arrange a suitable policy, usually at the vendor's expense.

Yeah, unless you are planning to rent out this property, the vendor should pay for any indemnity policy which, as I understand it, is a waste of money anyway. If you are intending to rent it out (legally) you will have to get a gas safety certificate anyway.

sleepymans

Get the vendor to have it serviced by an appropriately qualified engineer and give you the cert. OR they pay for the indemnity

need_an_answer

OP....are you referring to the commissioning of the boiler or just a gas safety certificate cp12?

I replied assuming it was the commissioning certificate,but smodlet has referred to the cp12 which as a homeowner you don't require.

need_an_answer

sleepymans wrote: »

Get the vendor to have it serviced by an appropriately qualified engineer and give you the cert. OR they pay for the indemnity

but what certificate will the vendor give you at that point?

at best it will be a cp12 which basically says gas is supplied via the boiler at the correct pressure on this particular day that the engineer tested it and no other obvious defect has been visually observed


If the OP wants an independent view using someone gas safe they trust they should be arranging the engineer and if required pay for them to take a look.

ben100000

Thanks for the replies the vendors are providing an indemnity policy at their cost my main question here is just what exactly can I do with it as it doesn't seem too much? I will be renting it so I am aware of the need to provide a certificate just need to know what can I use this indemnity policy for (if anything)?

Surrey_EA

ben100000 wrote: »

Thanks for the replies the vendors are providing an indemnity policy at their cost my main question here is just what exactly can I do with it as it doesn't seem too much? I will be renting it so I am aware of the need to provide a certificate just need to know what can I use this indemnity policy for (if anything)?

In practice, pretty much nowt.

But, it may be a condition of any mortgage you require that either a Gas Safe/Corgi certificate is provided to cover the installation of the boiler, or an indemnity policy is provided as an alternative.

Smodlet

I thought a Gas Safety Certificate was a legal requirement of the landlord's when letting a property. Not sure any indemnity policy is a substitute but perhaps G_M or one of the other helpful LL's on here will come along and clarify this.