
Conveyancer found "no clear right of way" to access the property I'm buying. How worried should I be?
Conveyancer found "no clear right of way" to access the property I'm buying. How worried should I be?
Hi everyone,
I'm currently buying a house on Vale Street with a mortgage. My conveyancer just flagged that the legal deeds don't show a clear right of way to use Cole Crescent to get to Vale Street.
To fix this for the mortgage lender, they are proposing:
\*A Statutory Declaration from the sellers swearing they’ve used the road for years without issue.
\*An Indemnity Policy to provide legal cover if anyone blocks access in the future.
As a buyer, I have a few quick questions:
\*Is a declaration + indemnity policy normally accepted by UK mortgage lenders without fuss?
\*Will this cause me major headaches when I try to sell the property in the future?
\*Should I insist that the seller pays the one-off premium for the indemnity policy?
This is a highly developed area with properties all around the street, not a new site.
Any advice or reassurance from people who have been through this would be amazing.
NB: Cole Crescent is unadopted. While Vale street is adopted.
Several property transactions has taken place on the street successfully. In the last 10 years, at least 6-7 property have been bought/sold on Vale Street.
I dont want to loss a good property over a None-issue.
Thanks!