Professional indemnity insurance for engineer reqd by lender?

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dweller

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My mortgage was approved in principle.Now they want a copy of my engineers indemnity insurance.He has just informed me that he has none.Anybody know how this will affect my application?
 
Re: proffessional indemnity insurance

All architects should have professional indeminity insurance in order to carry out business....

Is this engineer qualified??
 
Is he an engineer (what type?), an architect or something else (e.g. a surveyor)? Is this a self build or did this person do a valuation/structural survey on an existing property or something? Whatever service he has provided I would assume that no lender will accept it without indemnity insurance due to the risks involved.
 
He s an architect/engineer, he did a cert of compliance for me.I never knew to ask if he had insurance.I just hope the lender will be ok with this.
 
He s an architect/engineer, he did a cert of compliance for me.I never knew to ask if he had insurance.I just hope the lender will be ok with this.
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The cert of compliance he provided is a waste of paper, unless he has professional indemnity insurance.

You will have to engage the service's of another engineer/architect with professional indemnity to satisfy the lender. Maybe your engineer can recommend someone to you, who will provide the paper work required at a reduced cost as your engineer should have informed you he would not be able to comply with the lenders requirement fo professional indemnity.
 
The cert of compliance he provided is a waste of paper, unless he has professional indemnity insurance.
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That's a bit harsh. What it means is that if he has made a mistake and you have to sue him if he had insurance that will cover it, if not, he will be personally liable. Because a mistake with a house could be very costly to rectify lenders prefer engineers with insurance. Indeed if he has no assets in his name, suing him could be useless without insurance. As far as I am aware if you are building or renovating using a mortgage to do so, the bank will insist that your engineer has the relevant insurance or that an engineer inspects at stages or on completion who has the insurance. IF you are buying a house that is complete there is no such requirement- but they will have their own valuer inspect before loan approval and that valuer will have professional indemnity insurance.
 
dweller said:
My mortgage was approved in principle.Now they want a copy of my engineers indemnity insurance.He has just informed me that he has none.Anybody know how this will affect my application?
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What is he doing for you , self build certifying ??

Get him to get someone insured to sign off 'on him' so.
 
run away! seriously how can the engineer be trusted if he/she has no PI insurance? you're possibly letting yourself into a world of hurt. also, when getting building insurance for the build you could encounter problems. was this engineer recommended to you? are they just starting out? i don't see how they could have done any work for anyone without having this insurance, either they've been refused or charged too much due to problems with them before or there's some other issue. i would also look at getting a refund on whatever they've charged you up to now.
 
You may have to get a new arch to complete a foundation and cert of compliance. If this is the case, he may have to drill bore holes in the foundation to confirm it is constructed to the standard regulations. This is not a big job and should cost approx a few hundred euro...
 
I've just been in touch with my lender and I have to get a new architect to do the whole thing again.I've got someone and he's going to do it.(hope he dosen't notice the velux).I 've asked for my money back also which he wasn't too happy about.Wasted 2 weeks with this .Could've had my mortgage by now.Am extremely angry.Thanks for the advice it was very helpful.
 
Without being personal about it I hope it won't myself - I've not a lot of time for the culture of build it anyway that prevails today.
 
Velux at the back roof are hardly a "build it anyway "culture since nothing is being "built".Also, the county planner told me I could put them in cos the site is surrounded by trees and To go for retention after.By the way unhelpful comments are not welcome on this thread .So one way or another I will have what I want.So up............ to the begrudgers.
 
velux only a problem if you can now see into a neighbours garden. its called overshadowing IIRC
 
Cannot see into neighbours garden,So like I said, hopefully it will be ok from a cert of compliance point of view.If not we'll just get the retention.
 
your problem is that the certifyer must be in practise , like a consultant engineer or architect, and with profesional indemnity insurance.

can your engineer not get a mate to sign off ??
 
I had to hire someone else.He hasn't done the job as yet.So I'll keep you posted on how I get on with him.
 
dweller said:
Velux at the back roof are hardly a "build it anyway "culture since nothing is being "built".Also, the county planner told me I could put them in cos the site is surrounded by trees and To go for retention after.By the way unhelpful comments are not welcome on this thread .So one way or another I will have what I want.So up............ to the begrudgers.
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If the county planner told you then what are you worried about ?
 
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