The fast approaching end of the SDLT holiday in March means that residential property lawyers are under even more pressure to complete purchases quickly.
They will be pleased to hear that major lenders Skipton Building Society and NatWest will now accept Search Insurance in place of Local Authority Searches. NatWest will temporarily accept Search Insurance for new purchases and Skipton will accept it where the results of the Local Search are “significantly delayed”.
Mark Davies, Stewart Title’s Director of UK Underwriting, said:
”Everyone involved in residential conveyancing have become aware of the growing number of Local Authorities that are advising of delays in providing information. These lenders are joining the many other major lenders such as Barclays and Halifax in recognising the role Search Insurance can play in allowing purchases to complete in a timely and safe manner.”
With premiums starting at £16.80, Stewart Title’s No Search Policies can be purchased quickly on the online ordering platform: www.stewartsolution.com, or by email to quotes@stewart.com.
“Where a Local Authority search has been submitted and the results have not been received in time, then our Search Delay Policies can offer protection to lenders and buyers,”
concludes Davies.
For more details about how we can help you and your clients, contact Robert Kelly: robert.kelly@stewart.com or 02070107820.
This article was submitted to be published by Stewart Title as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
