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confused
girlracer
Posts: 383 Forumite
Hmmm im a bit confused, or maybe thick, im sure you people will let me know which one i am
I have just watched a tv programme, about a guy who had a conviction for fraud, but he was still able to buy a house OUTRIGHT ( wonder where he got the money
)
anyway i thought that if you brought a house you had to have buildings insurance, wether you bouhgt the house outright or with a mortgage, just wondered how he managed to get insurance if he had a conviction ????
would it be a specialist insurance firm ????
he said he was convicted 6 years ago and his conviction had been spent, but wouldnt it be a requirement that this was still disclosed ?
I have just watched a tv programme, about a guy who had a conviction for fraud, but he was still able to buy a house OUTRIGHT ( wonder where he got the money
)anyway i thought that if you brought a house you had to have buildings insurance, wether you bouhgt the house outright or with a mortgage, just wondered how he managed to get insurance if he had a conviction ????
would it be a specialist insurance firm ????
he said he was convicted 6 years ago and his conviction had been spent, but wouldnt it be a requirement that this was still disclosed ?
Weight loss 3stone 4lbs
0
Comments
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You don't have to have buildings insurance if you own your house outright, but mortgage companies require it seeing as they effectively own part of the house. It's pretty stupid not to have buildings insurance, but it's not a legal requirement.
Not sure that having a conviction automatically prevents you from getting insurance anyways?0 -
Oh right thank you, yeah i thought it was the law that you had to have buildings insurance, but its made things a little bit clearer, it didnt really explain it well on the programme
thanks againWeight loss 3stone 4lbs0 -
He would have to diclose this as a material fact, its one on the questions on the proposal form or statement of fact. If someone fails to diclose any information which is deemed a "material fact", insurers could void your policy, i.e. in the event of a claim. There are insurers who will cover people with convictions but would be at a higher premium.0
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