Query regarding insurance for a property owned by my mother but that I live in

Mazyana

My mum has recently purchased a property on behalf that I couldn't get a mortgage for. There is no mortgage on the property and I will be living there with my partner and children. The title deeds are in my mums name and there won't be a tenancy agreement as we will be renovating with the intention of buying the house in 3 years time.

We have looked into what type of insurance is required and with landlord insurance there are irrelevant questions and cover included in the policies which bumps up the price. I have checked forums and there are differences of opinions on the policies that are required. I understand that I will be paying contents insurance separately but it is whether landlord insurance applies or whether normal buildings insurance applies....some help would be appreciated!! Thanks:cool:

dacouch

Will there be a tenancy agreement in place ?

System

dacouch wrote: »

Will there be a tenancy agreement in place ?

"there won't be a tenancy agreement"

thor

I have been advised by insurance companies that even it there is no rent being paid you should get a tenancy agreement sorted. Once you have it in place then your mother should have no trouble getting a reasonable quote for landlord insurance. Landlord insurance isn't always much more expensive than normal buildings insurance.
Apart from that I cannot see any other type of cover you could get since you are living in a property that is owned by someone else.

Faith177

Try speaking to a broker I know a couple of companies would consider it family occupancy so your mum can insure the buildings as she has the insurable interest in that at the moment and you can take out a diffrent policy in your name for the contents

jay82

If she has purchase the property, doesnt she just require plain property insurance? and then later on after 3 years when you get the property you can get it done in your name?

System

Even though you are not paying any rent and don't have a written tenancy agreement (you have an implied tenancy agreement) you are still a tenant and your mother would have the attendant responsibilities of a LL