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Looking for advice!!
hildosaver
Posts: 380 Forumite
Hi there, Ive just purchased a house that requires renovation and is currently unoccupied. Once the renovations are complete I will look to let it out.
What I need is buildings insurance from now until all the renovation work is complete when I would then get landlord insurance once it is letted.
Is this correct? Will I be able to change from buildings to landlord insurance? Is this the best way to do it?
What I need is buildings insurance from now until all the renovation work is complete when I would then get landlord insurance once it is letted.
Is this correct? Will I be able to change from buildings to landlord insurance? Is this the best way to do it?
I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)
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Comments
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You wont be able to "change" as in convert a policy from one to the other but you will cancel/ lapse the unoccupied policy and then buy a landlords policy.0
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I would think about it the other way and look for a landlords policy that will allow a period of unoccupancy. It must be common for a rented out property to have spells of unoccupancy.0
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I would think about it the other way and look for a landlords policy that will allow a period of unoccupancy. It must be common for a rented out property to have spells of unoccupancy.
They exclude renovation. I insured mine with Towergate, in three month blocks. Then I arranged a landlord insurance that happened to coincide with the period when I finished, and was looking for a tenant. The broker was out local Swintons, who were very good. If you have a DSS tenant, it reduces who will insure you, but again a good broker will sort that.0
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