Title Indemnity Insurance

Wonderland2025

I'm about to exchange on a freehold and we are missing some drawings in transfer dated 1980 when property was converted from leasehold to freehold. Original lease dated 1967 is not available. The current title plan is clear and marked as freehold. My Solicitor asked for a. indemnity to meet lender requirement. Does this create complexity and can impact future sale process ? Is this normal ?

user1977

Better on the House-buying etc board, but it's a normal solution, which is why your solicitor is recommending it to both you and your lender.

Wonderland2025

Thanks for your response. Will I struggle to get mortgage in future or make it less attractive to future buyers ? 

DullGreyGuy

Wonderland2025 said:

Thanks for your response. Will I struggle to get mortgage in future or make it less attractive to future buyers ? 

Check the duration of the insurance, it can be very long term or even indefinitely. Whilst the insurance is in place most lenders won't have an issue.

As to buyers, you can answer that for yourself as well as anyone given its your consideration right now. As long as they have a decent solicitor and not too skittish the majority will just insist on title insurance and will just be a question of who pays for it.