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Buildings Insurance between Exchange and Completion
maci_2
Posts: 6 Forumite
Can anyone help?
Buying a house. I have been told by the solicitors to get buildings insurance from exchange, but don't complete til 4 weeks later. Have tried to get insurance from various providers and from mortgage lender themselves and they've pretty much said - no way! They say that as we don't occupy property, they cannot cover it.
What is best thing to do?
Buying a house. I have been told by the solicitors to get buildings insurance from exchange, but don't complete til 4 weeks later. Have tried to get insurance from various providers and from mortgage lender themselves and they've pretty much said - no way! They say that as we don't occupy property, they cannot cover it.
What is best thing to do?
0
Comments
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That's funny. We will exchange tomorrow or Mon. I have arranged buildings cover and none of the companies i rang were bothered about when we moved in!0
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I'm not an expert, but some insurance policies have 'interim' cover. We've just got our mortgage with HSBC and by agreeing to take out their insurance, they provide interim cover meaning that should anything go wrong that we'd need it for, we're covered. Don't know the finer details though I'm afraid. Good luck0
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The solicitor is correct, if things go wrong between exchange and completion it would be very messy legally. I have just done this with Aviva and they accepted it was perfectly normal procedure.0
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Hi, this is common, you are responsible as soon as you exchange. If the house burns down you will still be legally bound to complete the sale, cinders and all, any good broker can help 0208 691 6226 J0
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Panic over, managed to get an insurer eventually. Thanks for replies. :T0
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