Leading Title Insurance

Specialist Residential Risks

Residential title insurance from First Title

Title indemnity insurance to smooth the completion of your residential transactions.

First Title Insurance plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. First Title Insurance plc is registered in England under company number 01112603. Registered office: First Title Insurance plc, ECA Court, 24-26 South Park, Sevenoaks, Kent TN13 1DU.

Call: +44 (0)141 413 8800 Email: scotinfo@firsttitle.eu Visit: www.firsttitle.eu*Please refer to our website for further information.

Local Authority ConsentsOur local authority consent cover provides protection against the risk of the local authority taking enforcement action because alterations have been carried out without building or listed building consents. Paperwork may be missing or perhaps consent was never obtained in the first place. This policy provides a quick and effective solution and avoids the need to contact the local authority, which can often delay a transaction.

Bankruptcy Lender Cover If a property is transferred at undervalue, or for no consideration, and the transferor becomes insolvent, the transaction can be reduced under Section 34 of the Bankruptcy (Scotland) Act 1985. Lenders are extremely cautious in these circumstances and are often unwilling to release funding until insurance is obtained. Our Title Indemnity Policy reassures lenders and ensures CML compliance, as it provides protection against the cost of defending, settling or compensating if there is a Section 34 challenge.

Lack of Title/ DispossessionSometimes an area of land occupied by the seller will turn out not to be included in their legal title. Trying to locate and negotiate with the owner of the land to correct the issue may be time-consuming and costly, particularly if a ransom payment is demanded. Our dispossession cover provides protection when there is no intention to register the land in question, insuring against the cost of defending, settling or compensating if a third party challenges the occupation of it. We also offer lack of title cover when the land in question is registered, but perhaps the Keeper has excluded her indemnity/warranty.

Limited Title Guarantee or Lack of WarrandiceThe sale of a property by an administrator or a heritable creditor can be challenging. Often the seller will have limited knowledge of the property, and be unwilling or unable to provide purchasers with full title guarantees or warrandice. This leaves purchasers exposed to risks such as fraud, forgery, incapacity of prior owners, and other unknown third party challenges. Our limited title guarantee policy can replace the missing title guarantees and warranties, giving purchasers peace of mind and avoiding last minute price negotiation.

Residential property transactions can be fraught with risk. Uncertainties and issues can unnerve buyers and sellers, delay transactions, or even threaten the viability of the deal.

First Title was among the first insurers to offer legal indemnity insurance to property sector clients throughout the UK and Europe, including residential conveyancing professionals.

Today, we work across all business sectors involved in real estate transactions, including:

■ Conveyancing Professionals

■ Law Firms

■ Residential / Commercial Developers

■ Brokers

■ Renewable Energy Firms

■ Surveyors

■ Accountants

■ Commercial Estate Agents

■ Property Investment Funds

■ Lenders

With over 20 years’ experience in legal indemnity insurance, there are very few issues we haven’t faced. We have unparalleled experience in not only understanding the problem, but providing robust solutions. We also have an enviable reputation for introducing innovative products to meet the ever-changing needs of the market.

With consistent A ratings* from the major rating agencies and the security and financial strength of our parent company First American Financial Corporation behind us, both you and your clients can be safe in the knowledge that you are working with a solid and dependable business partner.

Comprehensive Residential Risk CoverageOur residential title indemnity insurance provides a convenient and cost-effective solution to residential property related issues, enabling you to concentrate on other areas of the transaction. It covers more than 50 separate known risks, ranging from common problems such as access, lack of drainage/services/water supply and lack of matrimonial home affidavits through to less well known, but equally as important risks as follows: