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  • FIRST POST
    • Help1234
    • By Help1234 19th Jan 18, 4:06 PM
    • 195Posts
    • 90Thanks
    Help1234
    Chancel repair insurance
    • #1
    • 19th Jan 18, 4:06 PM
    Chancel repair insurance 19th Jan 18 at 4:06 PM
    Hello,

    My solicitors have asked in their report if we want a quote for chancel repair insurance. The quote says £15 premium. I'm not sure what this means. A one off payment of £15? £15 a month? £15 a year?

    What types of payments do people generally make?
Page 1
    • Jemima09
    • By Jemima09 19th Jan 18, 4:08 PM
    • 166 Posts
    • 116 Thanks
    Jemima09
    • #2
    • 19th Jan 18, 4:08 PM
    • #2
    • 19th Jan 18, 4:08 PM
    It's a one-off, £15 sounds about right
    Debt Free and Very Very Proud! - DMP mutual support member 315
    Debts at May 09 (LBM) £20,675 : Dec 13 £ZERO!
    • Help1234
    • By Help1234 19th Jan 18, 4:12 PM
    • 195 Posts
    • 90 Thanks
    Help1234
    • #3
    • 19th Jan 18, 4:12 PM
    • #3
    • 19th Jan 18, 4:12 PM
    Oh right because the details seem to imply otherwise. The quote states:

    Limit of Indemnity - £250,000
    Inception Date - TBC
    Premium - £15 - (inclusive of Insurance Premium Tax) - increasing by 5% compound per annum on the anniversary of the for the first 10 years.
    Period of Insurance From the Inception Date and continuing in perpetuity
    • Jemima09
    • By Jemima09 19th Jan 18, 4:14 PM
    • 166 Posts
    • 116 Thanks
    Jemima09
    • #4
    • 19th Jan 18, 4:14 PM
    • #4
    • 19th Jan 18, 4:14 PM
    Oh right because the details seem to imply otherwise. The quote states:

    Limit of Indemnity - £250,000
    Inception Date - TBC
    Premium - £15 - (inclusive of Insurance Premium Tax) - increasing by 5% compound per annum on the anniversary of the for the first 10 years.
    Period of Insurance From the Inception Date and continuing in perpetuity
    Originally posted by Help1234

    Ooh, I have no idea what that means! It sounded about right compared to what I paid and mine was deffo just the once.
    Debt Free and Very Very Proud! - DMP mutual support member 315
    Debts at May 09 (LBM) £20,675 : Dec 13 £ZERO!
    • ACG
    • By ACG 19th Jan 18, 4:15 PM
    • 17,808 Posts
    • 9,595 Thanks
    ACG
    • #5
    • 19th Jan 18, 4:15 PM
    • #5
    • 19th Jan 18, 4:15 PM
    Why give half the information in your post.

    Why not ask your solicitor, the person who is infinitely more in the know about your application than anyone on here will be and the person you are paying for their professional opinion.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Help1234
    • By Help1234 19th Jan 18, 4:17 PM
    • 195 Posts
    • 90 Thanks
    Help1234
    • #6
    • 19th Jan 18, 4:17 PM
    • #6
    • 19th Jan 18, 4:17 PM
    Why not ask your solicitor, the person who is infinitely more in the know about your application than anyone on here
    Originally posted by ACG
    I really wouldn't be so sure about that. I suspect in fact a monkey may be more in the know then them. I could probably get in touch with a monkey a little easier as well.
    • Margot123
    • By Margot123 19th Jan 18, 4:21 PM
    • 1,089 Posts
    • 1,123 Thanks
    Margot123
    • #7
    • 19th Jan 18, 4:21 PM
    • #7
    • 19th Jan 18, 4:21 PM
    The insurance premium should be a one-off. I paid £12 for mine.

    Whatever you do, don't start any official chancel searches yourself (or instruct anyone to do so on your behalf). You won't be able to take out the insurance if you do.

    The clue to how long it lasts is in the wording 'Period of Insurance From the Inception Date and continuing in perpetuity' ie forever......
    Last edited by Margot123; 19-01-2018 at 4:23 PM.
    • Help1234
    • By Help1234 19th Jan 18, 4:22 PM
    • 195 Posts
    • 90 Thanks
    Help1234
    • #8
    • 19th Jan 18, 4:22 PM
    • #8
    • 19th Jan 18, 4:22 PM
    The insurance premium should be a one-off. I paid £12 for mine.

    Whatever you do, don't start any official chancel searches yourself (or instruct anyone to do so on your behalf). You won't be able to take out the insurance if you do.
    Originally posted by Margot123
    Good to know thank you
    • Shedman
    • By Shedman 17th May 18, 9:12 PM
    • 228 Posts
    • 137 Thanks
    Shedman
    • #9
    • 17th May 18, 9:12 PM
    • #9
    • 17th May 18, 9:12 PM
    The insurance premium should be a one-off. I paid £12 for mine.

    Whatever you do, don't start any official chancel searches yourself (or instruct anyone to do so on your behalf). You won't be able to take out the insurance if you do.

    The clue to how long it lasts is in the wording 'Period of Insurance From the Inception Date and continuing in perpetuity' ie forever......
    Originally posted by Margot123
    Are you sure that is correct as my solicitor has just told me that that would be the case if querying building control / planning permissions with council as that would preclude getting that type of indemnity insurance, but with Chancel Liability insurance a search wouldn't stop you being able to get it?
    • thelem
    • By thelem 18th May 18, 1:21 PM
    • 759 Posts
    • 557 Thanks
    thelem
    I thought chancel repair liability wasn't a problem any more, but it turns out its a bit more complicated than that.
    http://www.shoosmiths.co.uk/client-resources/legal-updates/Chancel-repair-liability-the-latest-7176.aspx


    Has the property been sold since 2013? Is the liability registered with the land registry?
    Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.
    • glitter123
    • By glitter123 22nd May 18, 4:25 PM
    • 493 Posts
    • 90 Thanks
    glitter123
    Chancel liabilty
    We've just had a letter from our buyers solicitor stating that our house is "potentially liable" according to the Chancel Search. They have quoted an insurance cost of £94 to be paid by us. Sounds expensive to me from reading this thread.
    • eddddy
    • By eddddy 22nd May 18, 5:00 PM
    • 7,173 Posts
    • 7,126 Thanks
    eddddy
    We've just had a letter from our buyers solicitor stating that our house is "potentially liable" according to the Chancel Search. They have quoted an insurance cost of £94 to be paid by us. Sounds expensive to me from reading this thread.
    Originally posted by glitter123
    I think your premium is higher, because you've done a chancel search which has shown up a potential liability.

    Had you not done a search, it may have been cheaper.

    For info, you can see examples of different polices here. You'll see policies for 'Known Liability', 'Potential Liability' and 'No Search'.

    https://cli.co.uk/legal-indemnity-products/chancel-repair-legal-indemnity-policies/211

    I guess premium prices vary accordingly.



    ...

    Note that, adding your question to this thread could well mean that people start answering the original question from 5 months ago again!
    • glitter123
    • By glitter123 22nd May 18, 7:38 PM
    • 493 Posts
    • 90 Thanks
    glitter123
    We haven't done a chancel search, our buyers solicitor has.
    • WreckDiver
    • By WreckDiver 22nd May 18, 7:50 PM
    • 8 Posts
    • 1 Thanks
    WreckDiver
    I paid about £20 for an indemnity policy last year when I bought my flat. My solicitor included it within the paperwork that came with the searches and was my responsibility to pay for as the buyer.
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