Insuring a house with 2 flats

mvarrier

Myself and downstairs are shared freeholders on a terraced house converted in to 2 flats. We have previously always had separate home insurance policies for our individual flats.

I am selling my flat but the buyers solicitors and mortgage lender are not happy with this arrangement due to the potential of gaps in cover and conflict of liabilities. I am struggling to find a straight forward way to insure the whole building including the 2 flats with both shared freeholders as named policy holders, which I can then change one named holder over to the buyers on completion.

Any help/suggestions much appreciated!

Equinox85

You can insure the property in a partnership of Mr A Smith and Mr B Smith for the entire property then have the use of the property as 2 flats. It is a basic insurance policy that most brokers can source for you from the likes of NIG, AXA, Aviva, Zurich etc.

Have you called a local broker and asked for a quote? Even online you could manage to get a quote.

mrsammyp

It's easily done via a broker.

They will insure the whole building under one policy in joint names and this can be amended upon sale.