Spotlight on… Road Adoption
May 2, 2023
Spotlight on…
Road Adoption
Is your client buying a ‘Residential’ property, or are they a mortgage lender dealing with a ‘Residential’ property?
Is the highway authority demanding contributions towards the costs of adopting a roadway serving the property? Perhaps due to an absence of a S38 Agreement, or because a developer has failed to comply with its obligations under a S38 Agreement?
Good news! GCS has the perfect solution for you…
What are your options?
We offer three variations of our ‘Road Adoption’ legal indemnity policy, depending on your client’s situation:
Capped 15 Years
This policy provides cover during the period of indemnity in the event of the highway authority seeks to obtain a contribution towards the costs of adopting the road serving the property, due to the reasons above.
Premiums start from just £57 (incl. IPT).
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In Perpetuity
This policy runs in perpetuity and provides cover if the highway authority seek to obtain a contribution towards the costs of adopting the road serving the property, due to the reasons above.
Premiums start from just £84 (incl. IPT).
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Lender Only
This policy runs in perpetuity and covers the mortgage lender for loss suffered if the highway authority seeks to obtain a contribution towards the costs of adopting the road serving the property, due to the reasons above.
Premiums start from just £50 (incl. IPT).
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How can you obtain cover?
GCS has multiple options for issuing our ‘Road Adoption’ policy.
If you’d like to issue this policy INSTANTLY through GCS ‘Online’, you can register for an account or log in.
Alternatively, you can contact one of our underwriters by email or phone, and they will issue the policy for you.