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Thomas
Thomas, Solicitor
Category: Property Law
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Experience:  UK solicitor holding an England and Wales practising Certificate.
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we are selling our property but part of an extension we built

Resolved Question:

we are selling our property but part of an extension we built 11 years ago encroaches in the airspace over the neighbor's property by about 3".

Are we able to obtain indemnity insurance for this type of risk?
Submitted: 2 years ago.
Category: Property Law
Expert:  Thomas replied 2 years ago.

Hi

Thank you for your question and patience, I’m Tom and I’ll try to help you.

The general underwriting criteria which you must meet in order to be able to obtain indemnity insurance for a flying freehold is:
1. The property must have been used as a residential property in the last 12 months
2. The structure which forms the flying freehold must have been in place for longer than 12 months
3. A survey or valuation not more than 6 months old did not reveal structural problems with the flying freehold
4. That you must be able to confirm that you are not aware of any diufficulties in carrying out repairs or maintenance to it
5. You must not be aware of any objkection, challenge or dispute realting to the repair prior to the commencement of the policy.

If you are able to comply with the above then you will almost certainly find that a insurer will offer indemnity insurance for this.

The question is whether or not the Buyer and their Solicitors and the buyer’s lender are prepared to proceed on the basis of indemnity insurance. Generally, if it is a small portion of the building which forms the flying freeholder (which it sounds like this is) then the solicitor will be okay with it provided that they are satisfied the Buyer understands the policy and it’s limitations.

Some lenders accept indemnity insurance for flying freeholds and some do not, it will depend on who the buyer’s lender is as to whether they accept it or not.

My goal is to provide you with a good service. If you feel you have received anything less, please reply back as I am happy to address follow-up issues specifically relating to your question.


Kind regards,


Tom
Customer: replied 2 years ago.

Thanks, Tom


 


because of the length of time it has been in place, the neighbours are statute barred to claim damages (6 years) and an injunction is out of the question because of laches and they only raised the issue when we had it on the market 4 yeas ago.


 


would it just be simpler to remedy the defect by making an alteration (it is only ridge tiles that overhang.

Expert:  Thomas replied 2 years ago.
Hi,

If you are selling the property then, frankly, if the buyer's are prepared to proceed on the basis of of an indemnity policy then I would do it that way. It'll probably be cheaper than the alterations and you always have alterations as an option in the event that they cannot proceed on the basis of indemnity insurance.

Kind regards

Tom
Customer: replied 2 years ago.

Thanks Tom but doesn't condition 5 of the indemnity preclude obtaining cover?

Expert:  Thomas replied 2 years ago.
Hi,

Sorry, I now see that you mentioned that they raised it in a previous sale.

In these circumstances, the usual self-service indemnity policies that solicitors can use would probably not be appropriate so they would have to go direct to the insurer to ask for a bespoke policy based on the specific circumstances. The insurer would provide them with a quote, which is likely to be a little more expensive but probably not prohibitively so.

Kind regards,


Tom
Customer: replied 2 years ago.

thank you.

Expert:  Thomas replied 2 years ago.
You're welcome.

Please do remember to rate my answer once you are finished though.

Good luck.

Kind regards,

Tom
Expert:  Thomas replied 2 years ago.

Hi,

Are you able to respond to the above post in order that I may provide you with an answer please?

Kind regards,


Tom
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Satisfied Customers: 7509
Experience: UK solicitor holding an England and Wales practising Certificate.
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