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Questions on mortgage application

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I have received an application for a mortgage and it asks if the property will be unoccupied for 30 days in a row or for 60 days in total. Anyone know why they need to know this?

Comments

  • pknottm
    pknottm Posts: 236 Forumite
    Part of the Furniture
    that sounds like a standard home insurance question!
    It's possibly a section on the mortgage application regarding insurance.
  • You don't have to have your lender's insurance.

    But any insurance company will ask you the same thing - it's pretty standard.
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • I thought it was an insurance question but it is actually on the mortgage application section not insurance
  • Why don't you ask the company tomorrow why they need to know? You'll get the right answer and then can decide if it makes a difference to you.
  • silvercar
    silvercar Posts: 49,564 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    they could be checking if you will be actually living there!
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Lenders may want to know whether there is higher risk in lending you the money. If unoccupied above certain periods of time, either consecutively or over a period of a year, it may not fit within their normal policy. Also, they have to ensure they can obtain insurance for the property even if you are insuring it yourself. If unoccupied, could cause them problems.
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