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right type of home insurance?
naynay9
Posts: 7 Forumite
Hi,
My husband and I have recently bought a house together and moved in. He has kept his previous property and is looking to rent it out to his grandparents- what type of home insurance does he need for this? would normal building cover suffice? or is landlord insurance more appropriate?
We don't want to end up with the wrong type of cover.
Thanks.
My husband and I have recently bought a house together and moved in. He has kept his previous property and is looking to rent it out to his grandparents- what type of home insurance does he need for this? would normal building cover suffice? or is landlord insurance more appropriate?
We don't want to end up with the wrong type of cover.
Thanks.
0
Comments
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He will be a LL and therefore needs to comply to all the things a LL does such as gas safety, protecting deposits and be a good idea to get LL insurance.
Also need to report rent to HMRC via tax return.
Is it mortgaged?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
yes and we have consent to let already on the property- it has just been vacant until now as we have been renovating it.
So it doesn't matter that it is family renting the property?
Thanks0 -
He is letting the property.
He will be a landlord.
He will need landlord's insurance (the clue is in the name).
When applying for CTL, did he make it clear the tenants would be relatives? Has he checked the terms of his CTL to ensure he is permitted to let to relatives?
See also:
* New landlords: advice, information & links0 -
yes we had to go through all of that when we bought our home together- our mortgage was conditional on getting the consent to let from his mortgage company0
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bare in mind CTL is not permanent and the bank can refuse renewl"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
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