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My buyers solicitors are asking for a copy of our "covenant concent" for our extension? If not to pr

My buyers solicitors are asking for a copy of our "covenant concent" for our extension? If not to provide indemnity policy at our expense??

Never heard of one?
We have all other documentation include planning permission, plans, building certificates

We have one for our whole house/property with the original deeds

Any ideas?
If I ruled the world.......

Comments

  • elsien
    elsien Posts: 35,699 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    What does your solicitor say?
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    Talk to your solicitor about it.
  • pinkshoes
    pinkshoes Posts: 20,516 Forumite
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    Well are there covenants with your property? Does one of them state that you require permission from the original builder before building any extension? Did you get permission??

    If your house was built ages ago, it is unlikely there will be an issue.

    Our house has quite a lot of covenants.
    Should've = Should HAVE (not 'of')
    Would've = Would HAVE (not 'of')

    No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
  • Tiglet2
    Tiglet2 Posts: 2,626 Forumite
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    Sounds like you have breached a covenant in your deeds (details of which could be found in an old conveyance or transfer or in your title deeds) because you (or a previous owner) did not seek consent from the covenantee before extending. If you cannot provide evidence that consent was obtained, the purchaser's solicitor will request that an indemnity policy be put in place for the new owner on completion. This is something that a lender will insist on and the onus will be on you, as the owner of the property with the defect, to pay for it since this issue will come up again and again should you lose your buyer.
  • This means that you property will have some form of restrictive covenant on it in relation to extensions. Whilst you may have received planning permission you would also have needed consent from whoever manages the covenant.

    If you didn't seek permission for the extension from the holder of the covenant at the time of your extension you will need to purchase an indemnity policy. Shouldn't be difficult to organise and it will protect your buyers from any come back at a later date.

    I've purchased a property with a similar issue so all I needed was details of the indemnity policy. I think it costs the previous owners around £100 for the policy.
    • Original mortgage end date: March 2041
    • Current mortgage end date: Dec 2032 
    • MFW 2025 #15 £128.00/ £2,400 /// MFW 2024 #15 £1,608.85/ £2500 /// MFW 2023 #15 £8,617.84/ £10,000 /// 2022 #15 £7,315.24/ £7250 /// MFW 2021 #15 £8,530.07/ £8500
    • Daily interest is currently £4.48
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
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    Solicitors ask for all sorts of rubbish - I was asked for a convent consent for an item in a 1946 deed, did I get the councils permission to park a visitors boat or motorhome on my drive - !!!!!!.

    As said though, if its a newish property there may well be an issue as new build estates generally have these conditions.

    Go back and say if the buyers want an indemnity policy then they can buy one.
  • Hasbeen
    Hasbeen Posts: 4,404 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    foxy-stoat wrote: »
    Solicitors ask for all sorts of rubbish - I was asked for a convent consent for an item in a 1946 deed, did I get the councils permission to park a visitors boat or motorhome on my drive - !!!!!!.

    As said though, if its a newish property there may well be an issue as new build estates generally have these conditions.

    Go back and say if the buyers want an indemnity policy then they can buy one.

    That would be the time, if I was buying the property to walk away.
    The world is not ruined by the wickedness of the wicked, but by the weakness of the good. Napoleon
  • First of all you need to understand
    1) what the covenant says
    2) how old it is
    3) who (or what parcel of land) has the benefit of it

    Before you know these things, the idea of getting insurance is premature. You need to know these things before you can get an insurance quote as the cost of the insurance will depend on the risk and the risk can only be understood once these things are known. Your solicitor should be explaining this to you rather than just blindly passing the request to you.
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