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Aston Lawyer
Aston Lawyer, Property Solicitor
Category: UK Property Law
Satisfied Customers: 10542
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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I am currently buying a 4 year old, architect designed

Customer Question

Hi. I am currently buying a 4 year old, architect designed property. We have the architects current PII certificate and confirmation from the ARB that he has been a member since 1997. He signed the CML certificate on completion of the property which we also have. My solicitor is holding up exchange as he wants the PII certificate from the date of the CML certificate. In that PII works on a claims made basis, so his current insurer would have to pay out, I fail to see the risk to the lender or to us. Please can you advise?
Submitted: 2 years ago.
Category: UK Property Law
Expert:  Aston Lawyer replied 2 years ago.
Hello and thanks for you using Just Answer.
My name is ***** ***** am happy to assist you with your enquiry.
I really don't know why and indeed how your Solicitor can request any further Prof Indemnity certificate- as you are aware, such insurance is taken out once a year and only 1 certificate is issued each year!
Provided your Solicitor has seen a copy of the Architect's current cover, and it complies with the following clause from the Council of Mortgage Lender's handbook, he has complied with his duties to your Mortgage Lender, if applicable-Likewise, if you are not having a Mortgage, the folowing requirements are all that your Solicitor will need.
CML Handbook-
"At the time he issues his certificate of practical completion, the consultant must have professional indemnity insurance in force for each claim for the greater of either:
•the value of the property once completed; or
•£250,000 if employed directly by the borrower or, in any other case, £500,000".
Unless there is something, you and me are not aware of, you will need to tell your Solicitor how to do his job, as per the above!
I hope this assists and sets out the legal position.
Kind Regards
Customer: replied 2 years ago.
That particular clause from the CML handbook is the one causing the issue. The completion certificate was issued in 2011, when the property was finished. We have his current 2015 insurance certificate. Any claim though, would be made against current insurance not the 2011 insurance. I'm light of this, please can you confirm my interpretation is still correct and we should only need the current certificate? Many thanks.