indemnity insurance for lack of building regs.

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  • indemnity insurance for lack of building regs.
  • Premier Icon ads678
    Subscriber

    Where do you get it from? I’m buying a house that has some work done without BR and i’m getting a bit confused with who gets it, vendor or me, and where do you get it from.

    This is just to satisfy the mortgage company.

    rob jackson
    Member

    vendor gets it

    spooky_b329
    Member

    Normally the seller would pay, but that is pretty meaningless. I’ve just been lumbered with a rather large indemnity premium for a problem with the house I’m buying that really is the buyers responsibility. But if they won’t pay, and you still want the house, what choice do you have?!

    Your solicitor will arrange it to satisfy your lender.

    Premier Icon ads678
    Subscriber

    Cheers, i’ll let the solicitor sort it then.

    Buying houses is a PITA!

    spooky_b329
    Member

    Tell me about it…we are right on the cusp of exchanging.

    Everyone said its stressful. I haven’t found it stressful.

    However our solicitor has made my life a living hell as every time we hear from him we end up with more questions than answers, keeps popping in additional delays and is incapable of using email despite repeated requests. When I email a question I do not expect to wait four days for yet another A4 envelope to drop through the letter box…I live 5 minutes drive away and I wish, I wish, I wish I had just used the random one 200 miles away as suggested by the estate agent!!!

    bonchance
    Member

    Box ticking by junior staff in solicitors *can* lead to this.

    You may find the kafkaesque secnario where you need to provide a regs cert from a change to a window in 1984 (I did). Which clearly is not applicable and would not exist.

    At that point it may be time for the buyer to have a frank discussion with own slctr. A junior operating the std forms will not have a view on this.

    The problem is many buyers may be deterred and often unreasonably. The risk is immaterial and the insurance just a con (but not much in the scheme of house moves).

    Good luck. It also *may* not be that hard to get a retro cert from council control dept – they see this situation all the time.

    spooky_b329
    Member

    It also *may* not be that hard to get a retro cert from council control dept – they see this situation all the time.

    No no no!

    If either you or the buyer approach the council and give details of the property, you have put them ‘on notice’ and this voids any indemnity policy for a further 12 months. This means you then have no choice to get building control in (or a letter stating the council will not take enforcement action) and if they don’t like what they see, it will have to be rectified. Without building control or the indeminity the lender may retain part or all of the mortgage which means you are stuffed.

    Its the same for stuff regarding covenants, if you contact the person that benefits from the covenant, you cannot then get indeminity on any potential breaches of covenant.

    P.S My solicitor is not a junior and as far as I know deals with everything apart from menial letter writing etc.

    Premier Icon footflaps
    Subscriber

    Indemnity insurance for these things is very common and cheap – it’s not a big deal at all. Your solicitor will sort it all out, just relax and ignore it – it won’t be a significant chunk of the total cost.

    Premier Icon jam bo
    Subscriber

    I paid it when selling my last house as it was about £30 and kept things moving.

    Premier Icon jam bo
    Subscriber

    I paid it when selling my last house as it was about £30 and kept things moving.

    Premier Icon jam bo
    Subscriber

    I paid it when selling my last house as it was about £30 and kept things moving.

    hh45
    Member

    Vendor should pay but really it should be cheap and not an issue. Are you happy that the works were done OK. Building regs are fairly functional and there to help everyone. Maybe you should be giving the vendor a harder time?

    That said, many lawyers are seriously struggling today and stringing out these types of (potentially) non issues just to try and earn extra fees.

    wrecker
    Member

    How much was it jam bo?

    Premier Icon geoffj
    Subscriber

    How much was it jam bo?

    3 installments of £30 apparently.

    Premier Icon ads678
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    Yeah the works fine, they took a wall down to open the kitchen and dining room, but they did install an rsj. Whether it exactly the right size i’m not sure but there’s no bounce in the above ceilings so it can’t be far off. I’ll get my bro-in-law (builder) to check it out properly when we get in and sort if needed.

    bonchance
    Member

    No no no!

    . Spookyb329

    Balderdash – it entirely depends on how material any issue may be. If things were done properly a retro cert can be issued upon inspection. You can enquire about situations in general without prejudice.

    OP is the buyer. Likely be in the house for longer than 12 months. If the matter is material, it would be in the OP’s interests to sort this, before or during tenure -unless the matter is of a trivial documentation nature. Insurance does not solve this in perpetuity.

    Senor solicitor – I presume did not supervise your buyer enquiry response which lead to the situatuin. You appear to have swallowed it and are happy to pay this particular extra- I probably would do the same so good luck. Maybe you can also understand why vendors side felt not.

    Bookies might give you a better price on the odds though – it’s a bit of a con but serves it’s purpose I guess. Good luck to all!

    Premier Icon Capt. Kronos
    Subscriber

    Just had to get one for a re-mortgage. Apparently they wouldn’t accept that extensive alterations done to the house 125 years ago didn’t need to have building regs or planning permission!

    Cost me just shy of £100.

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