OneSearch expand offering with CLS Property Insight indemnity integration
We are delighted to announce our latest portal integration with CLS Property Insight (CLS PI), offering best in class legal indemnity insurance for both residential and commercial property transactions.
CLS PI is a leading provider of data, technology and insurance services that underpin the success of a property transaction. The integration allows CLS PI legal indemnity policies to be ordered directly through the OneSearch ordering platform for the first time, delivering a seamless experience for customers.
This now makes available CLS PI’s most popular policies of 2021 so far (based on units sold):
- Lack of Planning and/or Building Regulations This policy protects the homeowners against legal action if the local authority serves a building regulation enforcement notice to force the owner to alter or remove any work that doesn't comply with building regulations.
- Search Insurance (No Search, Validation, Delay) This insurance covers a buyer who has chosen not to complete local authority searches. This could be due to many factors, such as turnaround delays.
- Restrictive Covenants (Known/Unknown) A clause in a deed or lease that limits what the owner of the land or lease can do with the property. This might relate to extensions or renovation work.
- Missing Information (Unknown Rights, Easements, Covenants) For situations where deeds or documents to a single residential and/or commercial property are mentioned in the Land Registry but have not been supplied to the Land Registry.
- Absence of Easement (Access/Services) An Absence of Easement policy can provide cover where no legal right can be established to use an access to a property and/or development site.
Lidia Quinlan, Head of Sales, OneSearch Direct, comments:
“As we might expect, an increasing number of homebuyers are choosing No Search Insurance in 2021, possibly due to the stamp duty holiday and subsequent reaction to increased transaction times. People have been keen to benefit from the tax savings and are prepared to take insurance to cover missing information. Indeed, Hackney Council stated on their website: "We strongly recommend that buyers and sellers explore indemnity insurance to enable transactions to proceed.”
“At OneSearch, we've always believed in the necessity of indemnities within certain property transactions, as risk prevention is fundamental to our business, and we know our clients share the same ethos.
"Our integration with CLS PI means clients can order policies through a highly streamlined workflow; to this end, we have also implemented CLS PI’s ‘variable statements of fact’ principle, meaning a wide range of policy types and transaction conditions can be fulfilled online with no delay.”
Steve Johnson, Collaboration Deputy Director, CLS PI, comments:
“It’s interesting to note two of the most popular policies relate to homeowners who wish to alter their property in some way. It would seem the anecdote of DIY weekends holds true. CLS work consultatively with a range of providers across the whole of the property transaction to unlock data silos, empower automated solutions and facilitate decisioning with certainty.
“We’re proud to partner with OneSearch on this latest integration where we are able to make the legal indemnity process more automated. We look forward to deepening our relationship and ongoing collaboration to explore new tools and services to OneSearch to make conveyancers’ lives easier.”
Your Guide to Planning and Building Regulations and Associated Indemnities
Wednesday 3rd November, 11AM
OneSearch Direct and CLS Property Insight are pleased to provide this informative discussion on Planning and Building Regulations, its effect on the residential conveyancing process and the range of legal indemnity policies available to help conveyancers and their clients progress property transactions.
- Overview of the key issues and the impact on homeowners.
- Case studies featuring issues that resulted in enforcement action.
- Overview of CLS’ insurance solution to help you navigate the potential issues which may arise.
If you can't make this date, but would like a recording afterwards, please click here.
To find out more about CLS PI products via OneSearch, please call the Service Introduction Team on 01782 433 270 or email firstname.lastname@example.org.