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Nationwide Remortagge Questionaire
scoops82
Posts: 247 Forumite
Has anyone else had to fill one of these in?
It asks about any new windows - we haven't go them yet but are in the process of getting quote etc - what is FENSA?
I had a quote from a building company for windows along with other work but im no sure if they are FENSA or if they need to be?
It also asks about insurance over the period of the mortgage - does that mean getting quotes for a 2 year period or are they happy that its insured and upto you to just renew it?
Thanks
S
It asks about any new windows - we haven't go them yet but are in the process of getting quote etc - what is FENSA?
I had a quote from a building company for windows along with other work but im no sure if they are FENSA or if they need to be?
It also asks about insurance over the period of the mortgage - does that mean getting quotes for a 2 year period or are they happy that its insured and upto you to just renew it?
Thanks
S
Scoops 
0
Comments
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New windows require FENSA certification.
Make sure your provider/fitter can supply it.
You need to ensure the property is insured. If it is already insured and this won't end when your current mortgage is repaid, make sure the cover meets the lender's requirements.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 -
Thanks - Ill make sure I ask the question regarding the windows.
Is it normal for buildings insurance to last longer than 1 year at a time?Scoops0 -
No, it's like car insurance, you have to renew every year. NW will insist that you keep it insured as a condition of the mortgage. You are in breach of the mortgage terms if you fail to insure it.
I'm not quite sure what happens if you ignore them and let it lapse, but at the very least they could withdraw your fixed rate and put you on SVR as you have breached terms. They might insure it for you and add that to the amount you owe along with charges. They might eventually be able to repossess the house if you refuse to insure it.0 -
The lender could insure it and charge the premiums to the mortgage account.I'm not quite sure what happens if you ignore them and let it lapse, but at the very least they could withdraw your fixed rate and put you on SVR as you have breached terms. They might insure it for you and add that to the amount you owe along with charges. They might eventually be able to repossess the house if you refuse to insure it.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 -
That's fine - I don't intend on ever leaving it uninsured.
I just found the wording confusing that's all.
ThanksScoops0 -
kingstreet wrote: »The lender could insure it and charge the premiums to the mortgage account.
Good to know!
You can bet they won't exactly shop around for the cheapest policy though, and there will certainly be an admin fee for it.0
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