Chancel Repair

[collinsc]

Hi

I am in the process of purchasing a house. I have just received a letter from my solictor stating that it has been discovered that my house is in an area affectd by 'Chancel Repair.

I appreciate there is lots of information on the internet about it. But i was wondering if anyone has actually come across this issue personally?

My questions are:

If I pay the indemnity then this will cover me for the length of my mtg (25 yrs). However, what happens:

1. When 25 yrs expires. Can the church hit me with a big bill!?

2. If I decide to sell in 2015 (and the area has been identified as church land). Can prospective buyers take out similar insurance (Would the insurance be roughly the same value), or would they have to pay out a big bill?

The above apparently all depends on whether the church have identified the land to be within the affected area by 2013 and have got owners to put this on their deeds. For the purpose of finding out the answers to my questions the above 2 questions assumes that this is the case.

Kind regards


Chris

 

[Shytalkz]

Interesting one, isn't it? The inference seems to be that, after 25 years, you would need a new policy. Of course, that relies on insurers agreeing to provide cover after that time and we all know how fickle that lot can be.

 

[empip]

I have heard of potential buyers walking away at the hint of 'Chancel Repair' liability.
I seem to have read somewhere if the property (land) should be found to be liable to CR - Insurance cannot then be bought, providers insure the risk not the reality... Sort of 'blind betting'.
I believe that insurance is available for something like 25 and 35 years also "In perpetuity" ... For your own cover and another version which may also be passed on... Not at all sure on this stuff, but I have no doubt cover may not be unlimited could well be tiered -- at a cost ...

Also heard tell Church has been recruiting legal researchers with the 2013? deadline in mind...

Found this legal mumbo-jumbo dunno if it may help..
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More for anyone interested .. See Archives 2000 - 2007
http://www.clsl.co.uk/ContentManagement/Page.aspx?PageID=42&Parent=Press+Reports
-P-

 

[collinsc]

Thanks for responses so far.