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Good afternoon, thank you for contacting Just Answer my name is***** am a solicitor and I will be assisting you today. All no search indemnity policies slightly differ, however generally they will cover any loss sustained as a result of adverse entries which would have otherwise been revealed had a search been carried out prior to completion of the transaction.
For example, moving into a property which is liable to heavy flooding or that a property has had an extension but did not recieve the required planning permissions.
The majority of lenders accept no search indemnity as you are purchasing a flat the risk is likely to be reduced.
Hopefully I have answered your question but if anything remains unclear I will be happy to assist you further.
Understandably so, a property purchase is a big investment but a flat is likely to be a less of a risk than a house. I wish you all the best in your purchase and if we can be of any further assistance do not hesistate to come back to us at Just Answer.