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

ChrisK....._3

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?

elsien

What does your solicitor say?

davidmcn

Talk to your solicitor about it.

pinkshoes

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.

Tiglet2

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.

Moneyminded

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.

foxy-stoat

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

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.

SmashedAvacado

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.