We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Indemnity Insurance
Options
tinytopo
Posts: 1 Newbie
Hello,
We are looking to purchase a house which has had to have an indemnity insurance put in place by the sellers due to non-regulated building regs and the partial covering of a mains sewerage pipe.
My concern is that if we want to do any future works to the house, it will obviously invalidate the insurance if revealed to a third party, so would we be able to either 'correct' the work, so to speak, or would we be able to start a new policy if we wanted to sell the property in the future. I don't want to be left with a house that cannot be sold on.
I have tried to ask the solicitors for their advise, but they say that they cannot comment on this as the laws could potentially change in the future.
Any help or advice would be much appreciated. Thanks!
We are looking to purchase a house which has had to have an indemnity insurance put in place by the sellers due to non-regulated building regs and the partial covering of a mains sewerage pipe.
My concern is that if we want to do any future works to the house, it will obviously invalidate the insurance if revealed to a third party, so would we be able to either 'correct' the work, so to speak, or would we be able to start a new policy if we wanted to sell the property in the future. I don't want to be left with a house that cannot be sold on.
I have tried to ask the solicitors for their advise, but they say that they cannot comment on this as the laws could potentially change in the future.
Any help or advice would be much appreciated. Thanks!
0
Comments
-
Your solicitor ought to be advising you on the insurance they're recommending you get, bit rubbish of them to be sidestepping the question - you are I presume paying them a significant sum to give you advice!
What do you mean by "non-regulated building regs"?0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards