Hackney has become the first local authority to announce that searches will now miss the stamp duty holiday deadline. As a result of a cyber attack which has left the council unable to process searches, Hackney recommend indemnity insurance as the only way to ensure completion before the 31st March 2021 deadline. The latest update on their website has been reproduced below:
Land searches and planning applications
“The systems that the Council uses to process new planning applications and the land searches needed for property sales are affected.
“We are hoping to offer a partial land search service in the coming weeks, but we don’t expect to be able to offer full land searches to any resident before the end of the stamp duty holiday. We are therefore advising residents who need to complete a property purchase to speak to their lender or mortgage broker about taking out indemnity insurance. We will be contacting current applicants next week to tell them which elements of the land search we will be able to complete.”
At OneSearch, we can support you with OneSearch Express, our indemnity policy which provides a data-rich alternative to standard No-Search Insurance, as it also includes a comprehensive report pertinent to a client’s property. Typically returned in just 2-5 working days, Express provides the majority of data (over 70%) that you would typically obtain from local authorities, meaning you and your client can complete quickly, and with more confidence.
Our clients have been using Express since 2015 for instances where search delays have put transactions at risk of collapse, and our claims record is exemplary: there are no claims resulting from our Express searches. This is due to the accuracy of our data, and triple quality check methodology. No other company exists with our dataset, comprised of real-time and historical CON29 data.
Express provides cover up to £1m (£2m for commercial) in place of the following searches which are increasingly causing unacceptable hold ups:
- A Search of the Local Land Charges Register form LLC1
- A Search of CON29R and/or CON29O records
- A Search of Water and Drainage records on CON29DW
- A search of the Coal Authority’s records on form CON29M
- An environmental risk assessment (excludes Commercial Express)
- A full Chancel Repair Liability search
The Express report includes over 80 data points, including (but not limited to):
- Road, Rail and Traffic Schemes
- Planning applications and Local Development Plan policies
- CIL question 3.10a
- Building Works, Environment, Health & Safety, Housing, Highways and Public Health
- Enforcement Notices, Stop Notices, TPOs, Listed Building Repairs etc.
- Conservation Areas (proposed or pre 1974)
- Compulsory Purchase
Express allows you to transact with the most data currently available, and lets you tie matters up swiftly and get on with your next case.