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Do you note your lender to any building/landlord insurance?
realfun
Posts: 32 Forumite
In the process of searching for a building insurance, most insurance co. ask if you would like to note your mortgage lender to the policy.
I know when i purchase the property my solicitor said it wouldn’t make any difference so I didn’t bother.
But I wanted to find out what everyone here does?
I know when i purchase the property my solicitor said it wouldn’t make any difference so I didn’t bother.
But I wanted to find out what everyone here does?
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Comments
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Some lenders want the cover jointly taken out with them. Others settle for asking for their interest to be noted.
See what your lender prefers.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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I think the OP is talking about the Insurance company noting the lender details.
I would not think it makes any difference at all, I think this data would be most likely be used for their statistical purposes i.e. getting some demographic statistics maybe but would not think anything more then that. Possibly to be used against us in the future
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It is common for a lender to want its interest noted in the policy as a minimum so that it would be informed by the insurer if the cover lapses, or is cancelled.
It can then take action to ensure its risk remains covered.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. Please do not send PMs asking for one-to-one-advice, or representation.0
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