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Santander Indemnity Insurance

Does anyone know if Santander accept indemnity insurance on ground rent? 

Ground rent is £200 but in 2039 increases to £300 (£100 increase every 25 years) 

we have a price for a deed of variation but we don’t have time. 

The price is considered in the sale price and is being completed after sale. 


  • loubel
    loubel Posts: 803
    Name Dropper First Anniversary First Post
    edited 6 December 2023 at 3:09PM
    Yes they do:

    5.14.9 If different from 1.11, contact point for matters connected with the lease:

    Ground Rents
    1. Where ground rent provisions cause (or, during the term of the mortgage, are likely to cause) the lease to be treated as an Assured Shorthold Tenancy under the Housing Act 1988, this need not be reported to us if either:
    a. the Lease can be varied to restrict the ground rent below the statutory level; or
    b. a suitable indemnity policy is put in place to protect us (but please notify us about the policy in accordance with the Indemnity Insurance instructions)
  • eddddy
    eddddy Posts: 16,155
    First Anniversary First Post Name Dropper

    we have a price for a deed of variation but we don’t have time. 

    The price is considered in the sale price and is being completed after sale. 

    Out of interest - Is it a house or a flat, and what price is the freeholder quoting? (And what is the lease length?)

    Something to bear in mind - it's very unlikely that the freeholder's offer is binding, even if it's in writing. (It's likely to be 'subject to contract'.)  So the freeholder could increase the price or decide not to offer the variation, after you've purchased the property.

  • Binding contract with solicitor. 
    All sorted now.

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