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Buildings Insurance and Mortgage
dwarfer01
Posts: 73 Forumite
Does anyone know if I have to have buildings insurance as a condition of a mortgage? I know when we first moved in and took the mortgage we had to have buildings insurance but the cover has now lapsed and we are in dispute with the insurance company who are refusing to underwrite us. Does this mean we are in breech of our mortgage?
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Comments
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dwarfer01 wrote:Does anyone know if I have to have buildings insurance as a condition of a mortgage?
In short - yes.
Check your mortgage T&Cs though, it will probably be a condition of your mortgage that you have appropriate insurance for the building.
Are you able to go to another company for cover?"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
The usual mortgage companies dont cover properties with subsidence (online anyway), and when I spoke to a broker they said we would need a civil engineers report before they would get us a quote, which we cant afford. Do you know any companies that might cover us? Thanks for your help...0
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