• Remortgage - Searches Or Indemnity Insurance?

    By Guest on 24th Mar 2017

    I am remortgaging a leasehold property that I have owned since 2007. My solicitor says the new lender will accept no search indemnity and is now asking would I like to have searches conducted or go for the indemnity insurance. I have tried to research online but I just don't understand which course would be better to take.

  • 1 Answers

    By Guest on 25/03/2017

    Indemnity is both cheaper and quicker. Normally on a remortgage you would only carry searches when the lender insists on it. Searches may reveal problems with the property you didn't know about but this is no help to you when you already own it. Also, searches will have bee done when you bought and anything that's happened since yoh should be aware of. Any adverse entries on a search could prevent your new lender from lending.

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