No Search Indemnity Insurance

Wafc03

Hi everyone,

Our local authority search is unlikely to be done before 31st March. I’ve been reading about other potential options and have seen that there something called No Search Indemnity Insurance.  

I’ve found this article that suggest the lander I’m using, Leeds Building Society, accepts the policy but I can’t find anything on their website that confirms this.

Would anyone be able to offer any advice on the policy, and how / if it’s possible to to find out if LBS accept the policy? (I will be calling them tomorrow but wanted to ask here as well)

In terms of the house purchase, We’re buying it from people we know (and have no issues with the house) and in an area that I’ve always lived so I know there shouldn’t be any issues to come back from the searches.

Thank you.

K_S

@wafc03 Your conveyancer would be best placed to both know whether this is a possibility and to arrange a suitable policy.

Wafc03

Thanks for your response...I’ll definitely be speaking to my conveyancer today about the options, just trying to assess the options separate as well as I find it easier to take information to them to act on rather than asking a question and waiting for a response given how busy he is at the moment.

davidmcn

Wafc03 said:

I’ve found this article that suggest the lander I’m using, Leeds Building Society, accepts the policy but I can’t find anything on their website that confirms this.

Would anyone be able to offer any advice on the policy, and how / if it’s possible to to find out if LBS accept the policy?

You (or more normally, your solicitors) read the UK Finance Lenders' Handbook to find lenders' policies on most such things - the relevant question is here:
https://lendershandbook.ukfinance.org.uk/lenders-handbook/englandandwales/question-list/2081/
- so in short, yes.

K_S

davidmcn said:

Wafc03 said:

I’ve found this article that suggest the lander I’m using, Leeds Building Society, accepts the policy but I can’t find anything on their website that confirms this.

Would anyone be able to offer any advice on the policy, and how / if it’s possible to to find out if LBS accept the policy?

You (or more normally, your solicitors) read the UK Finance Lenders' Handbook to find lenders' policies on most such things - the relevant question is here:
https://lendershandbook.ukfinance.org.uk/lenders-handbook/englandandwales/question-list/2081/
- so in short, yes.

@davidmcn Bookmarked Great resource, thanks for sharing.

Wafc03

@davidmcn @K_S thank you both for taking the time to respond! Great information to help me with my conversation with my solicitor.