Known Risks
Our Commercial and Residential Known Risk policies cover the cost of responding to any challenges of ownership or right to use the property as desired. They also make it easier to secure funding and to achieve more attractive rates of finance. From vehicular access to village greens, rights of light to restrictive covenants, whether it's a last-minute hitch or a complex first hurdle, First Title solves the problems associated with title defects quickly, commercially and effectively. In addition our Known Risk wording is capable of covering multiple identified risks under one policy document.
At First Title we are able to provide Known Risk cover for continued use risks and pre and post-planning development/change of use risks, offering a truly comprehensive title insurance portfolio.
First Title understands that the risks of operating in today's property sector demand insurance from the earliest stage of a project we can in most instances provide your client with the benefit of insurance protection immediately, not conditionally upon the outcome of your planning application. Taking insurance on a pre-planning basis can mean the difference between having to abort or pursue a project because of a title defect.
We also have a library of additional endorsements that can be attached to our standard policy wording that can provide such cover as inflation, loss of profits, consequential loss and relocation costs. This provides a much more comprehensive solution for your client.
In the event of a claim First Title will pay any legal fees and expenses incurred in defending the claim, this will not affect the sum insured.
Please refer to our online system to view the Commercial and Residential Known Risks currently available; if the risk you require is not shown within this page, then please contact us for a quote.
Showing 1 - 5 of 23 Results
Commercial Chancel Repair - Continued Use
Risk Description
Where the property is located within a parish with potential liability for chancel repair payments. It is not uncommon for property owners to carry out further building work on their land without consulting their neighbours or a lawyer. This can lead to buildings or extensions encroaching onto land belonging to third parties.
Commercial Chancel Repair – Development / Change of Use
Risk Description
Where the property is located within a parish with potential liability for chancel repair payments.
Flying / Creeping Freehold - Continued Use
Risk Description
Where part of the commercial property extends above or below another property.
Freehold Restrictive Covenant – Existing Breach – Continued Use
Risk Description
Where covenants are breached which restrict the use or type of building.