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Conveyancers asking for BOTH a SOT and idemnity for EVERY query - is this the new standard?

Or am I just unlucky? I doubt it helps for every single query, well it's rather for every query that they want to ask for an indemnity on, I'm seeing the same things coming up from previous buyers wherein they only asked for an indemnity.

In fact I had never seen a statement of truth request before. Conveyancers all have a 2nd job as milkmen?

Comments

  • TBG01
    TBG01 Posts: 503 Forumite
    500 Posts Fourth Anniversary Name Dropper
    Is getting works not signed off correctly the new norm? Is breaching covenants on title the new norm? 

    In an industry where Solcitors are told daily how to do their job, and are told it's taking too long, an Indemnity Policy offers that "quick straightforward" solution to an issue.

    An issue that wouldn't be there if the vast majority of people followed the rules and or correct procedures.


  • loubel
    loubel Posts: 1,041 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Indeed. And statements of truth are often required to obtain indemnity policies, plus they give additional peace of mind to a buyer that hopefully the defect or breach in question is not going to prove an issue requiring them to make a claim on the insurance policy.
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