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Organising own home insurance and protection FTB HELP!!
AdWolves123
Posts: 32 Forumite
Hello, I would like to arrange my own protection and insurance as its massively cheaper than what I was offered from the mortgage broker. Could you please tell me how I arrange this to coincide with my mortgage start date...as when I know my completion date I get them both to start from then or what?? and can I just phone the building society to cancel what they have arranged for me? any help is appreciated. Thank you:o
0
Comments
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Your home (buildings) insurance needs to be in place as soon as you've exchanged contracts (and generally your solicitor will want to see evidence of this) I'm not entirely sure what you mean by protection?
If you phone the insurance provider who looks to be giving the best deal and talk to them, they'll explain how to make sure everything coincides. It's a fairly common situation so it can be easily sorted
d.0 -
1) shop around. Find the insurance policy you wat, based on price and extent of cover, excess etc
2) print off the policy documents and quote.
3) write to your mortgage lender (or go via solicitor if you and the lender are using same solicitor) and state that
a) you do not intend to use their insurer and
b) you intend to use xxx company as enclosed
4) As soon as you Exchange (same day) activate the policy based on your previously obtained quote (most quotes are valid for 2 - 4 weeks).0
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