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  • FIRST POST
    • BeckyAP
    • By BeckyAP 9th Jun 17, 2:02 PM
    • 20Posts
    • 3Thanks
    BeckyAP
    Waiting on completion and home insurance
    • #1
    • 9th Jun 17, 2:02 PM
    Waiting on completion and home insurance 9th Jun 17 at 2:02 PM
    Hi all,

    My partner and I are currently renting and our contents insurance is up for renewal from 15th June - I've found someone cheaper than current provider but as we pay monthly the new provider would do a hard credit check
    Problem - we are due to move into our new build house on the 30th June
    Is a hard credit check so soon to completing/receiving funds for the mortgage going to be a problem?

    I'd rather not pay it up front, given 15 days after taking it out, I'd need to change the address of the policy/add additonal cover.

    Thanks for your advice!
Page 1
    • Lilla D
    • By Lilla D 9th Jun 17, 3:59 PM
    • 316 Posts
    • 160 Thanks
    Lilla D
    • #2
    • 9th Jun 17, 3:59 PM
    • #2
    • 9th Jun 17, 3:59 PM
    Insurance credit searches are not what lenders are concerned about - they don't like credit related searches, like credit card, store card, loan, car finance, etc. On the other hand, is it really worth the hassle and the stress of changing provider for the sake of 15 days? Contents insurance is cheap anyway, so you'd save like £5-£10 during this short period?
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • BeckyAP
    • By BeckyAP 9th Jun 17, 4:29 PM
    • 20 Posts
    • 3 Thanks
    BeckyAP
    • #3
    • 9th Jun 17, 4:29 PM
    • #3
    • 9th Jun 17, 4:29 PM
    Hi Lilla,

    Thanks for that - I think buying a house has turned me into an anxious person!
    If we go without for 15 days, it's then how important is the no claim history/continuously holding cover.

    I'll be so much happier when I'm in the new house!
    • Lilla D
    • By Lilla D 9th Jun 17, 4:38 PM
    • 316 Posts
    • 160 Thanks
    Lilla D
    • #4
    • 9th Jun 17, 4:38 PM
    • #4
    • 9th Jun 17, 4:38 PM
    Just checked it with one of the broker helpdesks for buildings and contents insurance and they advised that you could have a gap of 6-12 months (dependent on the insurer) without having an impact on your no claim history
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • BeckyAP
    • By BeckyAP 9th Jun 17, 9:01 PM
    • 20 Posts
    • 3 Thanks
    BeckyAP
    • #5
    • 9th Jun 17, 9:01 PM
    • #5
    • 9th Jun 17, 9:01 PM
    Thanks Lilla!
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