• Imdeminity Insurance

    By Guest on 11th Jun 2016

    I'm buying a basement flat with no landlord due to his company going into consolidation a few years ago which he lives in the top two floors of the prooerty. The current leaseholder of the basement flat thst we are buying is getting an imdeminity insurance in place because the land registry is not showing the second bedroom within boundary (front of basement). Will this affect us purchasing and also can we use the insurance to get the land registry changed to show second bedroom which as I understand is all owned by the Crown.

  • 2 Answers

    By Guest on 04/07/2016

    Indemnity insurance is obtained where there is a legal defect that can't be remedied (or can't be easily remedied). It will not help you fix the issue and I suggest you have a long conversation with your conveyancer and make sure you fully understand the issue as from how yuu describe it this is a very serious defect which could affect your ability to seell the property in future

  • By Guest on 04/07/2016

    Many thanks but after obtaining a second solicitors opinion they aks fekt this was not in our best interest so we pulled out. Thanks for the reply

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