urgent help needed!!! exchanged contract - can't get building insurance!!!

kj*daisy

We have the same clause in our survey and have found insurance with Halifax - just keep trying, someone will insure you.

And we pay a lot, which is really annoying cos there is obviously no subsidence as we had the cracks filled ten years ago and they haven't come back.

Will try Home protect though.

Thunderbird_2

To answer your last question, it is usually a mortgage offer condition to insure the house. However, I was never asked before for a proof.

It is in your and the banks interest to get a cover. 9 days should be enough.

caeler

You don't need to feel sick to your stomach. You have 9 days to sort this out before completion.

1. You are going to ask the vendor who they insure with.
2. You will call this company to get a quote.
3. You may also see a broker for an independant view and find other quotes to get you the best deal (if available).
4. You may still wish to pursue another survey to confirm the issues and how they have been fixed in more detail so you have the evidence in the future.
5. Have you considered getting a quote from your bank (if they are also giving you a mortgage on the place). Might be worth a try.

Take a deep breath, you can do this.

gemma.zhang

Thx.. Will try that.

Thanks zoo much everyone for UR speedy replies!

For home protect and Halifax, do we need to provide structure report? Worried we won't have time to have that done!

Fire_Fox

gemma.zhang wrote: »

Thanks..
we have homebuyer report one, and it mentioned very loosely on the subsidence, from what we see, it's jsut a crack. and therefore didn't occure us to have such a big headache with insurance.

Anyone knows if the building insurance is absolutely compulsury for the completion?.. as I am worried about the timeline to have the structure survey and before completion which is in 9 days' time.

also, could we just get a normal insurance (without disclosing this ) before the completion, and get the correctly one after completion?

Yes it is compulsory it will be a condition of your mortgage, did you read the terms and conditions? If you are either not insured or you don't declare the subsidence/ settlement and the house is burned to the ground you are stuffed, you will have a massive debt and no house.

It's not a big headache until you have failed to get insurance through the vendor or a broker, it's a normal part of home ownership. If you want a relatively easy life you stay in rental accommodation. I don't see the point of the thread if you are going to ignore perfectly sensible solutions in favour of your own hairbrained schemes.

Thunderbird_2

Home protect an electronic copy of the structural report.

You can get a survey report within 3-4 days. Home protect made a decision within 72 hours.

If you are not sorted by then, which you should be, then you might consider postponing the completion date by few days?

paso11

gemma.zhang wrote: »

Thanks..


also, could we just get a normal insurance (without disclosing this ) before the completion, and get the correctly one after completion?

That would be material non disclosure...you would invalidate your insurance cover potentially

BobQ

Fire_Fox wrote: »

Yes it is compulsory it will be a condition of your mortgage, did you read the terms and conditions? If you are either not insured or you don't declare the subsidence/ settlement and the house is burned to the ground you are stuffed, you will have a massive debt and no house.

It's not a big headache until you have failed to get insurance through the vendor or a broker, it's a normal part of home ownership. If you want a relatively easy life you stay in rental accommodation. I don't see the point of the thread if you are going to ignore perfectly sensible solutions in favour of your own hairbrained schemes.

Do you get a kick out of being so blunt with someone who is worried about their situation?

gemma.zhang

Thunderbird wrote: »

Home protect an electronic copy of the structural report.

You can get a survey report within 3-4 days. Home protect made a decision within 72 hours.

If you are not sorted by then, which you should be, then you might consider postponing the completion date by few days?

Thanks!
Hmmm... Thats tight!
Any insurer will cover me with home buyer report statement on subsidence that will be perfect. I am not concerned about quote now, just wanna it done by completion date ...

Fire_Fox

BobQ wrote: »

Do you get a kick out of being so blunt with someone who is worried about their situation?

Do you get a kick out of critiquing someone's posting style? Do you prefer Stepford wives to reader's wives?