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We can deliver bespoke insurance packages for solicitors
- Absence of Easements
- Breach of Trust
- Chancel Repair
- Contaminated Land
- Contingent Buildings Insurance (Landlord & Tenant)
- Covenants for Title
- Defective Title
- Flat Maisonette
- Flying/Creeping Freehold
- Good Leasehold Title
- Improvement Grant Liability
- Incorrect Power of Attorney
- Judicial Review
- Lost Title Deeds
- Matrimonial Homes Act
- Mining / Mineral Rights
- Missing Information
- Missing Landlord
- No Search
- Obstruction of Right of Way
- Planning & Building Regulations
- Restrictive Covenant
- Rights of Light
- Search Indemnity
- Secure Conveyancing
- Services Indemnity
- Sewer Indemnity
No Search Indemnity
A lender who had loaned a sum of money to a borrower upon completion of a mortgage was concerned that no searches were carried out at the time of the transaction. Therefore, the lender’s solicitor suggested and arranged a “No Search” indemnity policy in case an existing adverse entry was later revealed.
Seven years later, following the borrower defaulting on their repayments, the lender took possession and when attempting to sell the property, a search revealed the presence of old mineshafts within its vicinity.
As a result the property was sold at a substantial loss. But thankfully the lender was able to make a claim, under their No Search policy, for the shortfall between the property’s original list price and the figure it was eventually sold for. This meant that for a modest premium the lender was able to recoup a signifcant portion of their losses.
Property Owner Mr.A was connected to a sceptic tank that drained into a ditch across the road. The ditch being on Property Owner Mr. B’s land.
As there was no legal right of access to Mr. B’s property, a solicitor arranged a Services Indemnity policy for Mr. A to cover the lack of a right to maintain, or repair, the tank.
Several years later, there were problems with the functionality of the tank’s outflow pipe, which resulted in raw sewage being discharged onto Mr.B’s land.
Mr.A sought to repair the pipe. But Mr.B refused to allow the outflow to continue on his land. As a result, Mr.A had no alternative but to block off the pipe and pay for a waste disposal company to remove the waste.
Subsequently, an alternative route was identified and planning permission was granted by the local authority to connect the property owner to the sewer system.
The total costs claimed, under the policy, were substantial for the new sewer connection and waste removal costs over the preceding years.
Secure Conveyancing Insurance Policy
A landlord let his residential property, via a Letting Agent, to a tenant, who it transpired, was using a stolen identity.
Once the tenant had taken occupation, he attempted to sell the property claiming to be legally acting for the actual owner whom he said was living abroad.
With the full asking price which was in excess of £1,000,000 paid, the Land Registry became suspicious that something was amiss and declined to register the sale. Although the Landlord was officially still the owner.
Unfortunately for the would-be purchaser, the money disappeared without a trace.
The issue of property fraud is becoming more common. Sadly the loss of this buyer was not insured. But had he and/or the lender bought a Secure Conveyancing policy, which offers protection against the unknown, he would have been covered for a modest premium.