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completion 30th september
mandyy
Posts: 29 Forumite
solicitor has instructed our completion will be 30th september. paper work signed 2 weeks ago and solicitor will date it accordingly. i know i need building insurance for that date. is there anything else i need. thanks in advance
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Comments
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You need buildings insurance from exchange of contracts, when you become legally obliged to buy the property, not completion.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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KS is correct. If you have exchanged, or are about to - get the property covered.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Surely exchange of contracts cannot happen without proof that the property has been insured by the buyer.
My solicitor whom I use for conveyancing always asks for proof of insurance before exchange of contracts.
Don't the building society/bank also need confirmation of this before they release the funds?
Dave0 -
how long after completion is the exchange bearing in mind its a rtb so am already living in the property
many thanks0 -
Exchange of contracts takes place before completion.
It is the legal agreement for the transfer to take place on the agreed completion date.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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