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btl insurance no tennant
katiedog
Posts: 134 Forumite
hi in the next two weeks i want to rent the house out I presently own. I will be using a buy to let mortgage. For the mortgage i need buildings insurance, but after 2 months without a tenant, Direct Line says they would cancel my insurance.
If I dont get a tenant would this cause problems for me? Also if i stay in the house longer till i get a tenant can i have normal house insurance with a buy to let mortgage.
hope you can help .thank you.
If I dont get a tenant would this cause problems for me? Also if i stay in the house longer till i get a tenant can i have normal house insurance with a buy to let mortgage.
hope you can help .thank you.
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Comments
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You appear to be asking for a combined unoccupied, landlord and residential policy - it doesn't exist !
Sit down with an broker (insurance possibly, but a mortgage broker more likely to understand the full options) and go through the plans and they will come up with the best option.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
You can't stay in the house if it is a buy to let you will be in breach of the terms of your mortgage.
I did this and they will now not give me another mortgage on any property but I am fortunate in that they did not recall the mortgage, which they could have done.Life is not the way it’s supposed to be. It’s the way it is. The way you cope with it is what makes the difference.0 -
My buy to let property had unoccupied insurance on it and they did indeed cancel it when I did not get a tenant in. It cost me a cancellation fee, I only get £39 back out of a £189 cost as I went through a broker so their fee was included in the £189. I tried to appeal it but got nowhere.Life is not the way it’s supposed to be. It’s the way it is. The way you cope with it is what makes the difference.0
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Thanks for the help above. Im new to this and Im on my own so im finding this a minefield. I will have to get a specific insurance policy for BLT and not live in the house. If anyone knows a policy which alllows a reasonable time to find a tenant before the insurance is canceled or a good broker, please let me know.0
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Endsleigh do Unoccupied Property insurance that may fit your bill: http://www.endsleigh.co.uk/Home/Pages/unoccupied-property-insurance.aspx
IIRC there are terms specifying the min temp for central heating and how often the property is checked.
http://www.moneysupermarket.com/home-insurance/unoccupied/
http://www.gocompare.com/short-term-property-insurance/0
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