Home Insurance paid monthly before the completion?

SuperSaver123

Hi,

I have just learnt that building insurance is in buyer's responsibility from the date of exchange.

So if I apply for home insurance to be paid monthly is that going to show as new credit for the bank offering mortgage before the completion? Are they going to be worried/not happy? Will this change the affordability?

there will be few weeks gap between exchange and completion so they are quite likely to see this going through the credit file.

thanks

amnblog

A similar question to one yesterday (yesterday's was road tax).


This insurance is a regular outgoing not a debt.


It would be one of the items already allowed for in the affordability calculation (unless there is something about the policy that makes it particularly more expensive than would be expected - e.g. a couple of Faberge Eggs covered on the policy).


Stop worrying.