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    • mummyflesh
    • By mummyflesh 13th Jun 19, 7:21 PM
    • 33Posts
    • 2Thanks
    Indemnity Insurance
    • #1
    • 13th Jun 19, 7:21 PM
    Indemnity Insurance 13th Jun 19 at 7:21 PM
    Hi All

    Looking for some advice we are in the middle of purchasing our first house the asking price was £179000 they accepted £175k. They knocked off a further thousand due to some work that needed to be done.
    Today we have found out that we are having to pay for indemnity insurance for missing particulars for the deeds of entry on the c1 register. Plus no one knows who owns the boundaries.
    We also have to take out another policy as the windows donít meet building standards.
    The sellers told us that they had the house re-wired and now in the property information it says no work has been carried out.
    The sellers solicitor has said they are not prepared to knock anything else off or pay for indemnity as they have knocked some money off for a quick sale.

    Can anyone offer advice I am unsure on how to proceed. Hubby wants to walk away from it.

    Many thanks
Page 1
    • G_M
    • By G_M 13th Jun 19, 7:26 PM
    • 49,560 Posts
    • 61,516 Thanks
    • #2
    • 13th Jun 19, 7:26 PM
    • #2
    • 13th Jun 19, 7:26 PM
    Those things are really dwn to the seller - tjey are at fault.

    But if hey refuse to pay you have three choices:

    * walk away
    * pay for the indemnity yourself
    * buy without indemnity (if your lender agrees) and trust that noprobs aise in the future
    • KatieDee
    • By KatieDee 13th Jun 19, 7:29 PM
    • 692 Posts
    • 539 Thanks
    • #3
    • 13th Jun 19, 7:29 PM
    • #3
    • 13th Jun 19, 7:29 PM
    Our vendors had to purchase indemnity insurance in regards to a conservatory on the back of the property, as it was erected prior to them buying the house and they had no building regs or permissions. They have also offered indemnity for missing window certs (which aren't missing, they just cannot be bothered to get them from the provider). I should add, our vendor is paying for both policies, which I understand is the norm.

    I think you'd be hard pushed to find a property that won't require some form of indemnity insurance, especially if your solicitor is particularly on the ball and asks for absolutely everything. There is no guarantee that you won't have the same kind of issues if you purchase another property, as I just don't think most people take care of their paperwork once they're in a house.

    The re-wiring thing would worry me slightly, but there's every chance it's just a bit of a mix up. Our vendor got confused on a few of the questions in the TA06, but amended these as soon as she realised. Caused a lot of panic initially but it was completely resolved in just a few weeks.

    If you're happy with the house itself but reluctant to cover the cost of indemnity yourself, you could ask your solicitor to request that the vendor pays. As I said, this seems to be the usual outcome and our vendor didn't even question it.
    • ethank
    • By ethank 13th Jun 19, 8:25 PM
    • 2,072 Posts
    • 1,091 Thanks
    • #4
    • 13th Jun 19, 8:25 PM
    • #4
    • 13th Jun 19, 8:25 PM
    Indemnity policy really is inexpensive.
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