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The issues outlined in this article are not new but a different approach is required.

Intelligent Real Estate Due Diligence Limitef (“IREDD”) ( www.iredd.eu) is an independent insurance broker (authorised and regulated by the Financial Conduct Authority)

Real estate transactions often involve duplication or repetition of due diligence and as a consequence real estate transactions often take longer and are more costly to transact than perhaps should be the case.
 
To address this IREDD advocates using appropriate "A” rated, legal indemnity insurance, to help speed up and improve the traditional conveyancing and property transfer process for the benefit of real estate owners, investors, lenders and end purchasers and their mortgagees.
 
Appropriate insurance can offer a cost effective and speedy practical and commercial solution to streamline the real estate transaction process.

The insurance is usually designed to provide an insured financial indemnity to the client against the financial risk of the relevant property not having a “good and marketable” title, as a consequence of the property not having necessary legal rights to use occupy and enjoy the property or the same being subject to interference by a third party.

This approach may not suit every situation but where appropriate it can help to enhance the liquidity of the underlying real estate asset and also the value of any security over that asset for the benefit of the insured and the insureds mortgagee.  It can also help address many of the concerns outlined in this article.